LIABILITY INSURANCE

Wed. Dec 18th, 2024

PROTECT YOURSELF FROM LIABILITY CLAIMS

EMPLOYEE COMPENSATION (WORKMEN COMPENSATION) POLICY

A workmen compensation policy, also known as a WC policy, is a type of insurance that helps employers pay employees or their families if they are injured or die while working. It can also help protect employers from lawsuits related to employee injuries.
It covers Employers Liability under the Workmen Compensation Act and under Common Law.

Here are some things a Workmen Compensation policy can cover:
 Medical expenses: The policy can help pay for medical treatments, including healthcare services and occupational therapy.
 Lost wages: If an employee is unable to work due to a workplace injury, they may still receive a portion of their regular wages.
 Death benefits If an employee dies in a work-related accident, the policy can cover funeral costs and provide death benefits to their beneficiaries.
The cost of a workmen compensation policy varies based on the risk of the occupation covered by the policy.

DIRECTORS AND OFFICERS LIABILITY POLICY

Directors and Officers (D&O) liability insurance protects the personal assets of a company& directors, officers, and other managerial personnel from
lawsuits and other legal costs. Insurance Policy can cover:

 Defence costs: The costs of defending against lawsuits
 Settlements: Payments made to settle lawsuits
 Monetary damages: Payments made to resolve claims
 Reimbursement: If the company reimburses an individual for legal costs, D&O insurance can reimburse the company
D&O insurance is important for corporate risk management and can help companies attract and retain qualified executives and board members.

PUBLIC LIABILITY INSURANCE

A public liability insurance policy is a type of insurance policy that provides
cover for any physical injury as well as property damage caused to the third
party for which the policyholder is responsible.
Types of Public Liability Insurance Policies:
 Public Liability Industrial Risks – For Manufacturing Units.
 Public Liability Non-Industrial Risks – For Non-Manufacturing entities like IT
companies, BPOs, Hotels, Schools, Housing Societies, Restaurants and
Clubs
 Public Liability Act – For all business units handling hazardous substances as
per Public Liability Act, 1991 and the rules framed there under.
It covers Employers Liability under the Workmen Compensation Act and under Common Law.

DOCTORS INDEMNITY

Provides indemnity against claims arising out of bodily injury / death or legal suits of any patient caused by or alleged to have been caused by error, omission or negligence in professional service for Doctors and Medical Practitioners Liability for another act. A doctor is responsible for not only his own negligence but also for the negligence of his employees, if such an act occurs under his direct supervision, by the principle of Respondent Superior.
The Insured includes the Policy Holder and his Qualified Assistants or employees named in the Proposal. The Act must be committed during the period of insurance commencing from the Retroactive Date.