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Liability Insurance Act

 

Scope

The policy covers the statutory liability of insured arising out of accidents occurring during the currency of the policy due to handling hazardous substances as provided in the PUBLIC LIABILITY INSURANCE ACT 1991 and the Rules framed thereunder.

 

Special Condition

Besides all usual conditions of liability conditions the following condition is applicable- The Insured Owner shall keep record of annual turnover, and at the time of renewal of insurance declare such turnover and all other details as may be required by the Company. The Company shall at all reasonable times have full rights to call for and examine such records. Note: Policy details given are indicative, not exhaustive. Please contact your nearest NIA office for further details

 

Who can take the policy?

A person who owns or has control over handling any hazardous substance at the time of accident and includes:

• in the case of a firm any of its partners
• in the case of an association, any of its members,
• in the case of a company, any of its directors, managers, secretaries or other officers who is directly in charge of, and is responsible to the company for the conduct of the business of the company.

 

Exclusion

This Policy does not cover liability:

• arising out of willful or intentional non compliance of any statutory provisions.
• in respect of fines, penalties, punitive and/or exemplary damages.
• arising under any other legislation except in so for as provided for in Section 8 Sub Section (1) and (2) of the Act.
• in respect of damage to property owned, leased or hired or under hire purchase or on loan to the Insured or otherwise in the Insured Owner's control, care or custody.
• directly or indirectly occasioned by happening through or in consequence of war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection or military or usurped power.
• directly or indirectly caused by or contributed to by.
• ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.
• the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof.

 

How to claim?

If a misfortune befalls, leave the worry to us but please intimate such loss/damage immediately to Zoom Insurance Brokers (insurance@zoominsurancebrokers.com) so that a Competent Surveyor may be deputed to minimize the loss.