Policy snapshot
A mandatory insurance under the Public Liability Insurance Act, 1991, for companies handling hazardous substances to cover third-party injury or property damage.
What is Public Liability Act Insurance (1981)?
This policy is mandatory for any company handling hazardous materials. It ensures compliance and provides immediate compensation for third-party injury or damage.
What can it cover?
- The policy covers legal liability to pay compensation for death, injury, or property damage caused by accidents involving hazardous substances. It includes costs for immediate relief as mandated under the Act, including legal expenses.
Who should consider it?
- Chemical plants, pesticide manufacturers, pharma units, Businesses handling hazardous or flammable goods
Key features to understand
- {"heading": "Key Features", "bullets": ["Statutory requirement for hazardous industries", "Covers immediate relief for victims as per law", "Can be extended with Environmental Impairment Liability (EIL)"]}
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.