More Details

Sum insured

The Public Liability Insurance Act, 1991 provides that the indemnity limit for Any One Accident should not be less than the paid-up capital of the undertaking and not more than the amount, as may be prescribed by rules framed under the Act.

The rule currently stipulates that the insurer is liable to pay not more than `50 million for any one accident and not more than `150 million for any one year.

Premium

Premium charged depends on two factors:

• Limit of indemnity selected
• Annual turnover (Gross sales of all goods including all levies and taxes)

A matching amount should be contributed towards the Environment Relief Fund

Significant exclusions

This insurance policy does not cover liability arising out of willful or intentional non-compliance of any statutory provisions, with respect to fines and penalties.