- Public Liability Insurance protects against financial risk when found liable to a third party/public for death, injury, loss, or damage to property or pure economic loss attributed to negligence.
- The policy also provides for legal expenses incurred with the prior consent of the insurance company.
- This is a mandatory policy to be taken by Owners, Users, and Transporters of a hazardous substance as defined under Environment (Protection) Act 1986 in excess of the minimum quantity specified under the Public Liability Insurance Act 1991.
- The relief granted to the affected public is as per the Act and many a times, minimal. Hence, it does not suffice the broader business requirements.
