Shriram General Insurance Company

A liability insurance plan is a type of general insurance policy that helps to protect the insured person from the risks of liabilities imposed by lawsuits and similar claims and also safeguards if you are sued for claims. Shriram General Insurance has come up with a sack full of liability insurance plans to protect you from every aspect of liabilities. Let us have a look at the plans with their varied benefits.

Professional indemnity Policy

This policy can be obtained by doctors, and medical practitioners, engineers, architects, chartered accountants, cost accountants, management consultants, lawyers, etc. to avail of the covers of all sums that the insured person becomes legally liable to pay as damages caused by alleged to have been caused by error, omission or negligence on the part of the insured while he is at his professional work, during the policy period. This policy also covers the legal costs and expenses, and it is always issued with a limit of liability.

Commercial General Liability

If you are engaged in commercial activity and want to protect yourself from third party liabilities, this insurance policy is best suited for you as this policy offers you protection against the death of or bodily injury to other people, accidental damage, or loss to the other person, third party property damage, and provides defense costs within the limit of liability. This plan can be availed of by any person, firm, organization, association, and companies, which owns, operate or engage in any commercial activity.

Errors and Omissions Liability Insurance

This policy is exclusively for those people who are connected to any medical establishment, and it provides protection to them from any third party legal liabilities arising out of any error or omission committed by a named professional or qualified medical assistant. The list of medical establishments that are covered under this policy are laboratories, diagnostic centers, hospitals, mental homes, nursing or convalescent homes, homes for physically challenged people, clinics, dispensing pharmacies, and veterinary hospitals and clinics.

Product Liability Insurance

Shriram General Insurance has specially designed this insurance plan to safeguard the product manufacturers from third party liabilities as this plan not only safeguards their organizations from claims but also covers legal expenses associated with defending these claims against their organizations. This plan covers the accidental death or bodily injury or disease to any third party and accidental damage or loss to any property belonging to a third party. It also has come up with add-on covers to provide you more protection, such as vendor’s liability extension, North American jurisdiction extension, and technical collaborators inclusion clause.

Public Liability Insurance (Non-Industrial)

This policy can be purchased by any person, firms, association, companies that operate, own, or engaged in commercial activities to protect themselves from the third party liabilities that not only safeguards them from the claims arising out of damage or injury due to an accident but also from the property damage of the third party within their premises. The insured person can also opt for different add on covers such as notification extension clause, extended claim reporting clause, food and beverage extension, care, control and custody extension, and extra facilities extension.

Workman Compensation Insurance

If you are an employer and want to safeguard your employees from the unforeseen events of accidents and diseases of occupation, this plan is ideal for you. Under this policy, you can also insure employees irrespective of the fact whether or not they fall within the scope of the Workmen’s Compensation Act of 1923.

Shri Suraksha Insurance Plan

This policy is specially designed for those people and their family members who are vehicle owners or any person who is engaged in operation and maintenance of the vehicle to offer them protection from personal accidents, and fire and allied perils cover for their house building and its contents. The maximum entry age for availing of this policy is 70 years and this policy has two sections, Section I and Section II. Under Section I, you can choose the benefits as per your marital status and you would get personal accident cover up to Rs. 250000 and for Section II, the maximum sum insured is Rs. 3,00,000.

Householder’s Umbrella Package Insurance Plan

This policy is made to cater to the needs of the householders under a single insurance policy, whereas the insured person can have the flexibility to choose a plan from the available options, Pan A, Plan B, Plan C, and Plan D, as per his/her convenience. This plan has come up with a wide range of benefits such as cover against fire and allied perils, burglary cover, loss of cash due to assault to the insured benefit, and personal accident cover. Premium, under this policy, is available in two categories; one is full coverage and the other one is without fire and allied perils and building/flat.

Shopkeeper Umbrella Package Insurance Plan

This policy is beneficial to the small shopkeepers as it comes with the flexibility to choose from 10 sum insured options as per the need of the person. Under this plan, the sum insured is fixed, and the premium is based on the chosen sum insured, which is also fixed. This plan has come up with a wide range of covers such as fire and allied perils and contents (Section I), burglary (Section II), money while in transit or within premises (Section III), PA (Section IV), and fidelity guarantee (Section V).

Fidelity Guarantee Policy (Prospectus)

This type of liability insurance policy protects the firms, corporates, and individuals who are involved in commercial activities and are exposed to different types of pecuniary and financial losses arising out of any act or fraud and dishonesty as committed by any employee of the insured person. This plan has come up with four types and they are – Named Basis, Designation Basis, Floater Basis (with loading), and Blanket Policy. The policy will only extend to cover losses if it has been occurred by an employee during the policy period but discovered by the insured person within 30 days of the expiry of the policy.

Shriram Burglary Insurance Plan

This policy has come up with two types, namely Full Value Insurance and First Loss Insurance to offer protection against any loss or damage to the property or any part whilst contained in the premises due to burglary or housebreaking and damage caused to the premises or locks to make stronger and protected by the insured as an effect of burglary or housebreaking. The insured person can also opt to add cover(s) such as theft in the premises, purchase protection coverage, and fidelity guarantee coverage, in order to make his policy stronger.

Shriram All Risk Insurance Plan

This policy aims to provide protection to firms, companies, shops, or individuals who are engaged in commercial activities and who provide portable equipment, such as laptops, computers, mobiles, cameras and, etc. for the official purpose from the loss or damage incurred due to fire, riot, theft, strike, accident and many more. One can opt for the India-wide Cover or the Worldwide cover. This plan comes with some special conditions, like Single Article Limit and Articles in Pairs or Sets.

Shriram Business Protector Policy

This is a comprehensive policy that is specially designed to cater to the needs of SME and office establishments, hotels, restaurants including the IT and ITES Sector and it allows you to curtail and customize your policy according to your requirements. This policy has 12 sections to choose from and they are – fire and allied perils (Section I), burglary and housebreaking (Section I
I), glass and sanitary fittings (Section III), neon sign/glow sign (Section IV), machinery breakdown (Section V), electronic equipment (Section VI), portable equipment (Section VII), money insurance (Section VIII), baggage insurance (Section IX), fidelity guarantee (Section X), public liability (Section XI), and personal accident (Section XII). Apart from that, this policy also offers you a sack full of add-on covers, and a minimum of three sections are required to avail of this policy.