Product Details
Products Liability Policy
Pune
A Quality Product from
THE NEW INDIA ASSURANCE CO. LTD. [View Profile]
Pune - India
Description :
Highlights
This policy covers all sums (inclusive of defence costs) which the insured becomes legally liable to pay as damages as a consequence of:
accidental death/ bodily injury or disease to any third party.
accidental damage to property belonging to a third party.
arising out of any defect in the product manufactured by the insured and specifically mentioned in the policy after such product has left the insured's premises.
The policy offers the benefit of retroactive period on continuous renewal of policy whereby claims reported in subsequent renewal but pertaining to earlier period after first inception of policy, also become payable.
Scope
The defect in the product may be a manufacturing defect or may even be due to faulty packaging, delivery specifications or instructions as to use of the product.
The policy covers the sales turnover of the company- both domestic and/or exports.
The policy is on a claims made basis i.e. the claims must arise and be made in writing on the insurance company during the policy period.
The policy does not cover any liability for product recall, product guarantee, pure financial loss such as loss of goodwill or loss of market. The policy also does not pay for the cost incurred for repairing or reconditioning or modifying the defective part of the product.
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THE NEW INDIA ASSURANCE CO. LTD. deals in :
We insure all types of Non Life Covers. PERSONAL :- • Pravasi Bharatiya Bima Yojana Policy • Health Plus Medical Expenses Policy • Mediclaim Policy • Personal Accident Policy • Overseas Mediclaim Policy • Householders Policy • Motor Policy • Bhavishya Arogya Policy • Money Insurance • Rasta Apatti Kavach (Road Safety Insurance) • Suhana Safar Policy • TV/VCR/VCP Insurance • Mobile/Cellular Phone Insurance • Other Personal Insurance COMMERCIAL :- • Jewellers Block Policy • Bankers Indemnity Policy • Shopkeepers Policy • Marine Cargo Policy • Plate Glass Insurance • Special Contigency Policy • Neon Sign Insurance • Multi Peril Policy for L.P.G. Dealers • Fidelity Guarantee Insurance Policy • Marine Hull Policy • Aviation Insurance INDUSTRIAL :- • Fire Policy • Burglary Policy • Machinery Breakdown Policy • Electronics Equipment Policy • Consequential Loss Policy • Contractors All Risk Policy • Marine cum Erection / Storage cum Erection Policy • Advanced Loss of Profit / Delay in Startup Policy • Contractor Plant and Machinery Policy • Mega Package Policies LIABILITY • Public Liability Policy • Products Liability Policy • Professional Indemnity Policy • Directors and Officers Liability Policy • Lift (Third Party) Insurance • Employers' Liability Policy • Carrier's Liability Insurance • Liability Insurance Act Policy • Golfers Indemnity Insurance SOCIAL :- • Universal Health Insurance Scheme • Jan Arogya Bima Policy • Raj Rajeshwari Mahila Kalyan Yojana • Bhagyashree Child Welfare Policy • Janata Personal Accident Insurance • Student Safety Insurance • Ashrya Bima Yojana • Rural Insurance
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