Page 182 - Liability Insurance IC74

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Another Excess of loss treaty may be arranged to pay
Rs 20 lacs in excess of Rs 20 Lacs. To provide further
protection for catastrophe losses, another treaty may
be arranged to pay Rs 60 lacs in excess of Rs 40 lacs.

Thus excess of loss protection can be arranged in layers.
So, if there is a loss of Rs 1 crore, the reinsured will
retain Rs 5 lacs and recover Rs 95 lacs for reinsurers
under this treaty.

(b) Describe North American Jurisdiction Extension
Clause - The operative clause of the Products Liability
Policy provides that the indemnity does not apply to any
judgement award etc. under the laws of US or Canada,
unless the Insured request for such extension. The
extension is granted by specifically stating it in the
Schedule and subject to the specific 'retroactive date'
and specific 'Compulsory excess'.

Q8. Mention the exclusions under Industrial Risk
Public Liability Policy - Repeat Q3 of May 2009
Contractual Liability Exclusion - public liability insurance
is only concerned with liabilities arising under law. Any
other wider liabilities which the insured assumes under
contract are not covered.

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