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Liability Insurance Broker
Liability Insurance

In the increasingly litigious world that we are in Irrespective of the size of business, it is critical to consider liability insurance. It is prudent to cover your business against all kinds of liabilities - public liability (third party injury or property damage) from industrial and non-industrial operations, product liability, professional indemnity, D&O liability and E&O liability. Bonsai Insurance offers a wide array of liability products to suit your business needs.

The following are some of the products

  • Product Liability
  • Public Liability Act Only
  • Workmen's' Compensation Policy
  • Public Liability Insurance (Industrial Risks) Policy
  • Public Liability Insurance (Non-Industrial Risks) Policy

Product Liability Insurance - Introduction

Safety and reliability of products are an important concern to consumers, sellers & manufacturers. Faulty products can be hazardous for the consumers' health & property. The manufacturer/ seller of faulty could be held liable for such damages, exposing themselves to financial losses.

Product liability insurance protects the companies exposed to above risk by financially assisting policyholders in such situations.

This Policy broadly covers:

Legal liability of the Insured towards damages to the third party arising due to faulty products manufactured / sold by the insured, liability with respect to:

  • Accidental death
  • Bodily injury or disease
  • Loss or damage to property

Legal costs and expenses incurred with the prior consent of the Insurer and within the limit of indemnity.

Depending on exposure (end users, sales territories, nature of products & turnover), the proposer has to fix two limits of indemnity under the policy:

  • Any One Accident (AOA)
  • Any One Year (AOY)

AOA and AOY can be in ratio of 1:1, 1:2, and 1:3 and maximum can be 1:4. It is not permissible to issue the policy with unlimited liability.

Public Liability - Industrial & Non Risks

Legal liability of the Insured towards damages to third party with respect to:

  • Accidental death
  • Bodily injury or disease
  • Loss or damage to property
  • Legal costs and expenses incurred with the prior consent of the Insurer and within the limit of indemnity
Public Liability - Act Only

This Policy broadly covers the Owner's statutory liability on the no-fault principle for the following conditions resulting from an accident while handling any hazardous substances:

  • Death of or injury to any person
  • Damage to property

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