Page 198 - Liability Insurance IC74

The Insurance Times

less, cannot exceed Rs. 15 crores in aggregate. Every
owner, in addition to the premium has to pay an
equivalent amount to be credited to the Environment
Relief Fund established under the Act. The contributions
received by the insured is remitted as per the scheme
made by the government. Any award for relief which
exceeds the amount payable under insurance policy is
made from the relief funds and in case the award exceeds
the total amount of insurance and really fun the amount
which falls short of such payable shall be made by the
owner.

(d) Examine the need of Vendors Clause in Product
Liability Insurance - the policy covering Exports may
be extended to provide Limited Vendor's Liability. The
persons insured privation is amended to include
designated person or organisations as an insured but
only in respect to the distribution or sales, in the regular
course of the vendor's business, products being specified
in the Schedule.

The insurance in respect of the vendor does not apply
to: A(a) any expressed warranty (b) any distribution or
sale for a purpose unauthorised by the named insured.

B. Bodily injury or property damage arising out of:(a)

Website: www.bimabazaar.com Call: 033-22184184 / 40078428 194

Copyright@ The Insurance Times. 09883398055 / 09883380339