+91 9810491710 support@netgain.in
+91 9810491710 support@netgain.in
Liability insurance may provide cover for certain individuals and the company for fines and penalties resulting from the operation of the business, including fines related to worker's compensation and occupational health and safety.
In India, businesses are accountable to statutory liability under the Public Liability Insurance Act, 1991 and need to compensate the claimant’s costs, in accordance with Indian Law.
Similarly, under the Employee’s Compensation Act 1932 (also known as the Workmen Compensation Act 1932) and the Fatal Accidents Act 1855, the acts provide for the payment by certain classes of employers to their employees of compensation for injury by accident.
Statutory Liability covers indemnifying the insured or owner/s against statutory liability arising out of Accidents occurring during the currency of the Policy.
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