Reliance Corporate Insurance - Liaibility Insurance

Reliance Directors and Officers Liability Policy

Features
Directors and officers holding top positions in companies are responsible in terms of their actions towards the company, the shareholders, the employees, and the public at large. The increase in litigation against directors reflects a change in the attitude of the general public towards greater management accountability and hence the position of a Director/Officer is becoming more onerous. The possible consequences of various allegations such as above may lead to either civil or criminal action being brought against directors and officers. The directors/officers may face substantial costs in legal costs, which are covered by Reliance Directors' and Officers Liability Insurance Policy.

Key Benefits
  • Exhaustive coverage against different legal risks that directors and officers might be exposed to
  • Liabilities arising out of directorship in subsidiary companies covered
  • Outside directorship can also be covered
  • Extension available to cover crisis communication
  • Court Attendance costs and pollution defense costs are also available as extensions
  • Fines and Penalties can also be covered

Reliance Workmen's Compensation Insurance Policy

Features
Any workplace can be beset with misfortunes such as accidents occurring to the employees while at work. The Workmen's Compensation Act, 1923 provides for the payment of compensation by the employer to his employees (for their dependents in the event of fatal accidents) if personal injury is caused to them by accidents arising out of and in the course of their employment. To lend the employers a helping hand where such misfortunes happen, we present Reliance Workmen's Compensation Insurance Policy.

Key Benefits
  • Exhaustive coverage covering all statutory requirements of employers in relation to the Workmen Compensation Act 1923 and Fata Accidents Act 1855 and Common Law
  • Provides for reimbursement of legal expenses incurred with the Company's consent.
  • Coverage for death, permanent total and partial disability and temporary disability of employees whilst at work.
  • Option to cover medical, surgical, and hospital expenses including the cost of transportation to hospital for accidental employment injuries of employees, on payment of extra premium.
  • Policy extendable to cover liability in respect of diseases mentioned in as part of WC Act, which arise out of and in the course of employment on payment of additional premium the

Reliance Professional Indemnity Insurance Policy

Features
Professionals such as Architects, Engineers, Doctors, Lawyers, Chartered Accountants, Medical Practitioners and services such as medical establishments etc need professional Indemnity Insurance to protect that business interests against legal claims for error, omissions, professional neglect for both the principles and their employees. For this purpose, we present the Reliance Professional Indemnity Insurance Policy, which provide comprehensive coverage for all claims which are legally established in the Court of Law on grounds of the covered perils.

Key Benefits
  • Specially designed policy to meet the requirements of different professionals and professional services
  • Exhaustive coverage against different risks.
  • The policy also provide for legal expenses and cost incurred with the prior consent of the insured
  • Hassle free documentation
  • Mid term increase or decrease in the sum insured is possible subject to the approval of the company

Reliance Product Liability Insurance Policy

Features
Most manufacturing units normally take the utmost care when it comes to adopting elaborate measures to ensure the quality and reliability of their products from the consumer's point of view. However, despite all these measures, there is always the possibility of defects occuring in the products. This can lead to accidental death/disability or disease to third parties and/or loss or damage to third party property or pollution, which in turn can result in the Insured becoming legally liable to pay for the damages, which can spell a lot of financial trouble for the Insured. The Reliance Product Liability Insurance Policy helps cover the legal expenses in the event of such contingencies, thereby providing financial assistance to the Insured.

Key Benefits
  • Ideal solution for manufacturing organizations needing protection against legal liability that could arise out of product defects
  • Extension available include any judgment / payment made within countries which operate under the laws of the United States of America or Canada or anywhere in the world.
  • Comprehensive coverage for legal liability arising out of injury, damage or pollution

Reliance Public Liability Insurance Policy

Features
Most industrial and non-industrial units face the risk of becoming legally liable to pay damages to third parties as a result of accidental death/ bodily injury to third parties or loss or damage to the property belonging to a third party. In case such events occur, the Insured establishments will have to deal with a great deal of financial woes by way of legal expenses. For covering the legal liability of industrial and non-industrial establishments, the Reliance Public Liability Insurance Policy is the perfect solution.

Key Benefits
  • Applicable for both industrial and non-industrial establishments to cover legal liability risks
  • Complete protection against the different types of third party liability risks.
  • Extendable to cover a host of risks such as pollution, transportation, technical collaborators' liability, effluents, acts of god etc
  • Extended Notification and Claims Reporting Periods applicable
  • Option to opt for voluntary excess in order to enable a discount in premium

Reliance Public Liability (Act) Insurance Policy

Features
The Public Liability Act, 1991 helps the Individuals, commercial, industrial and other organisations handling hazardous goods and substances to provide through insurance, immediate relief, to persons affected due to accident due to handling of such hazardous substances on 'No Fault Liability' basis.

As per the Act, anyone who owns, controls or handles hazardous chemicals as detailed in the provisions of the Act should take Public Liability (Act) insurance.
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CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2022