Liability Insurance: CGL, Product, PI & D&O

Liability cover for the claims a business cannot absorb

Liability exposures are the ones that exceed the balance sheet. Public liability answers for injury and property damage to third parties, product liability for harm caused by what you sell, professional indemnity for advice and service failures, and directors’ and officers’ cover for personal claims against the board. Each has its own trigger, and mixing them up is how gaps appear.

Liability cover your contracts ask for

Manufacturers supplying OEMs in Oragadam and Sriperumbudur are usually required by the supply contract to carry commercial general liability and product liability cover, often with a stated limit and the customer named as an additional insured. IT and consulting firms on OMR and in Guindy get the same request for professional indemnity from overseas clients, and funded startups get it for D&O from their investors. We read the contract clause first and place a policy that actually satisfies it.

Liability Insurance

Any Commercial or business activity will be having its own risks, which can result in a liability exposure. Any business will supply their manufactured products to the client or provide services to their client from their expertise. In case deficiency in the product or the service rendered to the client and that results in a quantifiable loss to the client, it can claimed as liability against the provider of the product or service.
If there is deficiency the product supplied it can result in product liability exposure and if there is deficiency the services provided to the client it can result in professional Liability claims.
If the commercial activity is resulting pollution or chemical spillage or gas leakage can result in problem to the people living in the surrounding area. This is called Public liability
Like this any business activity will have liability exposures. The same can be suitably managed by the smartTech experts through insurance solutions.