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  • What will you do if your product accidentally harms a user?

  • Can you survive during financial seizure that arise due to an a case or another medium of error?

Do You Know

This especially the case for hospitals, doctors or even business owners.

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Liability Insurance

Why is Liability Insurance Needed?

  • The liability insurance policy is for the companies or individuals who held legally liable for the injuries or other issues. This type of insurance policy is most suitable for doctors, hospitals, or business owners. For example, if a product manufacturing company sells a product that does damage to other people or products, then this manufacturing company may be sued for the loss or damages caused by its product. However, if thismanufacturing company is procuring a liability insurance policy, then the loss or legal costs will be covered by the insurer.Liability insurance is covered under general insurance policies. The scope of liability insurance in India is defined by the Public Liability Act of 1991.



Types of Liability Insurance Policy:

There are different types of liability insurance policies available which are according to the requirement and line of work of the customers. Some of the common types of liability insurance are:


Public Liability Insurance:This insurance policy of liability insurance is for those industries/companies that encounter trespassers and/or visitors in huge amount. In some countries, this insurance policy is

mandatory. However, whether it is mandatory or not, it is suggested to take this insurance policy to avoid unnecessary financial risks. The shopping malls, clubs, theatres, and places where sports or adventurous events are held are advised to take this insurance policy.


Employer Liability: This insurance policy is for the employers who want to cover the liabilities of employees who may get injured because of the job. Generally, this insurance policy is known as Business Liability Insurance.


Product Liability: This liability insurance policy is compulsory in many countries. However, it is one of the most required policies especially for the companies that deal with or produce tobacco, chemical, food, medical products, recreational products, etc.


Third-Party Liability: A third-party liability insurance policy is liability insurance for small industries or individuals who want cover against damages or losses caused by them to the third party. In third-party

insurance, the insured is the first party, the insurance provider is the second party, and the injured or the company/person who is making claim on the insured is referred to as third-party.

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