Insurance is available across several types of liabilities,
these are also known as indemnity polices:
1)
Employers liabilities: Chief among these are
those related to working conditions, and are covered under Workmens’s
Compensation Insurance polices. Liability in this area chiefly covers the
Industrial risks.
2)
Employees State Insurance: Liability is defined
in this Act in relation to injury to any
employee while at work. It defines the limits of such liability on part of the
employer.
3)
Non-industrial risks: These relate to
non-industrial but mainly commercial enterprises such as Cinemas, Restaurants,
Offices, Shopping Complexes, Schools, Exhibitions & Fairs, Shops etc.
4)
Professional Liabilities: These relate to
liability that could arise from the practice of a particular profession. Medical
practioners, engineers, architects, chartered accountants, directories of
companies, lawyers and solicitors etc. are covered under this group.
5)
Product liabilities: These are liabilities that
could arise from the sale of products to customers and resulting damage to any
customers due to a fault in the product. Edible products,equipment and
machinery, clocks & watches, air conditioners units, chemical products, motor
vehicle tyres, fireworks & explosives, elevators and escalators etc. are
covered under such polices.
