Our capability to deliver un-matched solutions and global services come from our lineage. AIG's global presence places us in a unique position to offer a worldwide liability programmes, centrally controlled from the Indian headquarters of insured. The liability policies offer a wide range of options to customize market needs such as:
• Policy option of Claims-Made or Occurrence-based forms
• Duty to defend benefits
• Worldwide claim service assistance
• Very Large appetite for risks complex or simple alike.
Public / General Liability Insurance
Overview
Public Liability Insurance offers cover for third party liabilities (Bodily Injury / Property Damage) arising out of the premises occupied by the Insured and legal costs incurred in connection therewith. The policy can be extended to cover legal expenses arising out of Pollution, Act of God Perils, Transportation of Hazardous Substances, Carriage of treated effluents etc.
Customer Profile
This policy can be offered for manufacturing premises, Godowns / Warehouses. While this addresses the requirements of the manufacturing enterprises, other non manufacturing entities like IT companies, BPOs, Hotels, Schools, Restaurants and Clubs, can avail of this insurance cover.
Depending upon your nature of operations Tata AIG Can customize your Public Liability Insurance policies as follows:
• Public Liability Industrial Risks - For Manufacturing Units.
• Public Liability Non Industrial Risks - For Non Manufacturing entities like IT companies, BPOs, Hotels, Schools, Restaurants and Clubs
• Public Liability Act - For all business units handling hazardous substances as per Public Liability Act, 1991.
Tata AIG Advantage
Tata AIG's public liability coverage option gives you the freedom to choose between:
• Commercial General Liability and traditional Claims Made Wordings
• Duty to Defend and Reimbursement Type Wordings
• Claims Made and Occurrence Based wordings
• Defense Costs in addition and Defense Costs Inclusive covers
• Retention and Deductible based coverage
Product Liability Insurance
Overview
Product Liability Insurance indemnifies the manufacturer, distributor, wholesaler, and retailer against third party liability arising out of the sale of products by the manufacturer. The liability may arise due to:
• A defect in the product, which has been used by the consumer
• A defect in the packaging, which has compromised the safety of the product
• Inappropriate usage of the product by the consumer due to absence of labels indicating usage precautions / warnings or
• Wrong instructions in the label causing the liability.
Customer Profile
All Manufacturing units and all those in the chain of supply whether in the wholesale or retail trade, Loan License and Contract Manufacturers, On-behalf Producers as also those on the marketing or the branding side, have Product Liability exposures and therefore the target market for this class of business is enormous. Also we intend to be of service to the large Indian Exporting Community who may be contractually bound to effect Product Liability Insurance.
Tata AIG Advantage
Tata AIG's public liability coverage option gives you the freedom to choose between:
• Duty to Defend and Reimbursement Type Wordings
• Flexibility in giving Internationally accepted Occurrence based wordings or traditional claims made format
• Worldwide Jurisdiction for Global exports
• Defense Costs in addition and Defense Costs Inclusive covers
• Flexibility to add your buyer / reseller as Additional Insured / Named Vendor under scope of the policy
Commercial General Liability
TATA AIG offers world's favourite liability policy "Commercial General Liability (CGL)" to discerning Indian Multinationals to cater to their unique Insurance needs. AIG's global presence places us in a unique position to offer a worldwide liability programme, centrally controlled from our India headquarters.
Overview
The Commercial General Liability policy is the ideal policy for organisations that are proactive in their approach towards Liability issues. It is accepted the world over as the complete policy to provide seamless protection to the Insured. It's a modular policy and it covers third party liability arising from various business exposures such as:
• Premises Operations
• Products and Completed Operations
• Advertising and Personal injury
• Supplemental Payments such as Fire Damage Limits and Medical Expenses
Customer Profile
• Indian Companies that have global operations
• Foreign Companies with a CGL Policy in other Jurisdictions, looking to extend that to their Indian operations.
• Companies who are contractually bound to carry Occurrence based liability cover
• Exporting companies who would prefer claim handling abilities in all major jurisdictions
Tata AIG Advantage
Tata AIG's public liability coverage option gives you the freedom to choose between:
• Our policy is a duty - to - defend policy, which means that having paid the premiums, you have almost entirely outsourced the Claims handling to us. From the point of Notice of claims, we defend you. Our claims department, in the country where the claim has arisen, handles the enquiry into the claim, pays the lawyers and handles the defence till the claim is brought to a logical conclusion by proceedings. What we bring on the table are:
- Expert claims handling through experienced claims department of the AIG office of the country where the claim may arise.
- Expert legal help (AIG goes only to extremely competent and renown legal counsel) at most economic rates. AIG promises volume business to lawyers and therefore can drive their fees down thus helping you cut down your legal expenses. Mitigation of the financial claim helps you in all renewals thereafter.
- As an independent third party, AIG helps to bring objectivity into Claims proceedings, which can help protect your position if the claim is not entirely legally tenable against you.
- You would appreciate that when we are handling your claims (up to the adequacy of the LOL), your funds are not tied up in legal expenses etc. and the alternate use of funds is available to you. This can mean enormous relief when you are looking at mounting legal expenses in litigious jurisdictions.
- An assurance from your end at the time of the claim to the Board and Senior Management that the insurance company is handling the claim.
• CGL also offers important coverage in terms of Personal & Advertising Inquiry covering legal claims brought on account of libel/slander/wrongful eviction or detention on the premises.
• CGL provides a Special Medical Payments cover where any first aid rendered to a third party for an accident on insured premises is settled on a no-fault liability basis without any deduction towards an excess/deductible.
• CGL is issued on internationally accepted wording which satisfy the most discerning insurance buyers across even highly litigious jurisdictions. So with Tata AIG insurance - you never need to worry about acceptability of your wording.
Workmen's Compensation Policy
Overview
This policy covers the legal liability of an Employer to an unlimited extent, under the Workmen's Compensation Act, The Fatal Accidents Act, and at Common Law. This liability devolves statutorily on the employer if his employee, falling under the purview of the definition of "Workman", suffers death, bodily injury (both temporary and permanent), and disease arising out of and in the scope of his employment.
Customer Profile
All manufacturing units with employees who fall under the purview of the Workmen's Compensation Insurance Act, 1923 have Employers' Liability exposures under the Act. All business organisations have Employers' Liability exposures under Common Law and such organisations form the target market for this class of business.
Tata AIG Advantage
Indian multinationals who have Workmen's Compensation needs in various countries around the world can opt for global policies from Tata AIG, which leverage AIG's presence in more than 130 countries. Tata AIG can issue locally admitted and non-admitted policies as per the demands of the jurisdiction in which the multinational operates.
Excess / Umbrella Liability Policy
Overview
The policy is an Occurrence based policy (can also be issued on a Claims Made basis) and covers liabilities arising due to bodily injury, Property damage, Personal injury or Advertising injury devolving on the insured caused either by an Occurrence or arising out of liability assumed under an "Insured Contract". It is triggered when either the applicable limits of insurance of the underlying policies are exhausted or when the damages covered under the umbrella are not covered by the underlying insurances.
Customer Profile
Companies which are multinational in character and have autonomous operations in various countries and jurisdictions where liability exposures differ considerably.
Tata AIG Advantage
Tata AIG's public liability coverage option gives you the freedom to choose between:
• Offers Excess and Umbrella Covers for all the following types of Policies
- Public Liability Insurance
- Product Liability Insurance
• Umbrella also a Duty-to-defend policy based on the CGL format.
• International claims handling expertise stretching to more than 130 countries.
• Coverage can be written on both Claims Made and Occurrence Formats.
• Among the few underwriters who can provide both Worldwide jurisdiction Primary and Umbrella coverages not only in India but also worldwide.
• Experience and ability to handle all types of Large and Commercial Liability risks.