Any type of insurance policy that protects an individual or business from the risk that they may be sued and held legally liable for something such as malpractice, injury or negligence.
The policy does not cover liability arising out of or in connection with pollution, any product, personal injuries such as libel, slander, fines, penalties and punitive or exemplary damages, and transportation of materials.
This policy covers the amount which the insured becomes legally liable to pay as damages to third parties as a result of accidental death,bodily injury, loss or damage to the property belonging to a third party.
The legal cost and expenses incurred in defending the case with prior consent of the insurance company are also payable subject to certain terms and conditions. One can insure more than one unit situated in different locations under a single policy.
This policy can be offered for manufacturing premises, Godowns / Warehouses and covers.
Financial Planning is a process of setting goals (For example buying a house/car, planning a vacation, child's education/marriage, retirement corpus etc), assessing income, assets, investments, expenditure and liabilities, estimating future financial needs, and making plans to achieve them.