Salient Feature

Policy indemnifies the insured against legal liability to

Policy indemnifies the insured all sums which the insured shall become legally

liable to pay as damages in consequence of accidental death/bodily

injury or disease to third party or damage to their property arising out

of any defect in the products manufactured and covered under the policy after

such products have left the insured’s premises.

1. Product Recall.

2. Deliberate, willful or international non-compliance of any statutory provision.

3. Loss of goodwill, loss of market.

4. Fines, penalties, punitive/exemplary damages.

5. War and War like situations.

6. Any loss occurring prior to the Retroactive Date mentioned in the policy.

Premium : - Premium will depend on the kind of products produced

by the insured i.e. insured’s classification as per Risk Group. Turnover,

Ratio of Any One Accident Limit to Any One Year Limit etc.

Excess : - Policy is subject to Compulsory Excess i.e. in the event of a claim,

the insured must bear 0.50% to 1% of the limit of indemnity.

Exports:

Exports of products to USA, Canada, Europe and other countries also can be

insured under the policy.

Vendors Legal Liability:

The policy can be extended to include the liability of vendors.

Technical Collaborator Liability:

The liability arising out of any agreement of Technical Collaboration can be

covered as an extension.