Liability Insurance

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Liability Insurance Features

Product Features
Professional Indemnity
Comprehensive General Liability
Specific Liability Risks

Pays for litigation costs and awards against any officer or key employee Protect directors and other key executives from litigation costs. Necessary to embolden executives to work without fear of litigation. Covers litigation for any reason.

Pays for litigation related to an alleged deficiency of services or negligence. Relevant for all services companies and individual professionals such as doctors, architects, and chartered accountants. Conduct your business without worrying about acrimonious litigation.

Pays for third party claims on your premises or because of your products. Consists of public and product liability. Public liability covers litigation by third parties hurt on your premises. Product liability covers damages caused by products that you manufacture.

Cyber Risk. Commercial Crime. Carrier Legal Liability These insurances are specific to select industries. Carrier Legal Liability protects fleet owners and transporters. Cyber Risk most applicable to companies dealing with online customer information. Commercial Crime is relevant to financial services companies amongst others.

Benefits Overview of Liability Insurance

Covers legal costs

Liability covers take care of legal expenses when you have to defend yourself. These costs can rapidly mount up. In some insurances, the insurer also has a duty to defend which makes them responsible for taking up the law suit. Generally, insurers are also a good source of identifying competent lawyers and preparing a defense strategy.

Meets contractual obligations

Business partners increasingly require you to purchase liability insurances to do business with them. This is true of companies overseas and increasingly, in India. Liability insurances meet all these contractual requirements. These insurances can also be modified to include your customer’s name as an additional insured, another common requirement.

Cover across countries

A well-placed liability insurance will cover you for legal costs in any country. This becomes important when you have customers or operations outside of India. Often, litigation will take place in a foreign country. This is expensive and you may not have the market knowledge of how to defend yourself there.