More Details

Sum insured

Depending on exposure, the proposer has to fix two limits of indemnity under the policy:

• Any One Accident (AOA)
• Any One Year (AOY)

AOA and AOY can be in ratio of 1:1, 1:2, 1:3 or 1:4. It is not permissible to issue the policy with unlimited liability.

Premium

Premium chargeable depends on the:
• Risk group
• Limits of indemnity selected
• Ratio of limits
• Number of locations
• Annual turnover

Significant exclusions

This policy does not cover liability arising out of or in connection with:
• Pollution
• Any product
• Any professional services deficiency
• Personal injuries such as libel, slander, fines, penalties
• Punitive or exemplary damages
• Fines
• Transportation of materials

Excess

Policy is subject to compulsory excess of 0.25% of AOA limit, subject to a:
• Maximum of `1,00,000
• Minimum of `1000

Higher excess opted on a voluntary basis qualifies for discount in premium.

Main extension

These include:
• Goods kept in custody of insured extension
• Food and beverages extension
• Industrial seepage, pollution and contamination extension
• Sports facilities, swimming pool and other facilities extension
• Transportation extension
• Act of God
• Perils extension