Liability insurance


Public Liability Insurance

 

Public liability insurance should be taken out by any business, large or small that deals directly or indirectly with the public. 

 

It Covers -

 

(a) Any financial liability arising out of any act of negligence or omission or commission resulting in death/injury and/or property damage to other members of Public or legal entities either by you or your employees, caused in connection with the Business and happening within the defined Territorial limits.  This is generally referred to as THIRD PARTY or PUBLIC LIABILITY cover.

 

The cover includes any legal fees and expenses which result from any claim by a third party, subject to prior consent of the Insurer.

It is to be understood that a THIRD PARTY is one who is not connected with you as a family member / employee or with whom you have entered into a contract.

(b) Policy can be extended to cover certain type of liabilities which may arise under a Contract, such as the liability of a tenant towards landlord under the Tenancy contract.


Under this insurance, you must be legally responsible to compensate the sufferer under a specific law or under common law or law of tort.​

The policy is on ‘occurrence’ basis. ‘Occurrence’ would mean the incident should happen during the policy period. Sum Insured Selection - In Public Liability Insurance, the sum insured is referred to as Limit of Indemnity. This limit is fixed per accident (Any One Occurrence) and usually covers any number of accident/occurrence during the period (In Annual Aggregate).


The AOO limit which is the maximum amount payable for each accident should be fixed taking into account the nature of activity of the insured and the maximum number of people who could be affected and maximum property damage that could occur.

 

Some of the Exclusions are as below :

 

1) The insured’s profession or business or

2) Liability Toward Workmen

3) Product Liability

4) Liability assumed by the Insured by agreement unless such liability would have attached to the Insured notwithstanding such agreement.

 

How to purchase?

 

For detailed information,

Call toll free : 800(628873) - Ext 123

email: property@oicgulf.ae