Page 219 - Liability Insurance IC74

Guide for Liability Insurance

Ans. The policy provides indemnity where the insured is liable
to:
(i) a customer or third-party for loss or damage to cargo
in the insured's care, custody or control.
(ii) a third party for death, bodily injury or damage to
property.
(iii) a customer or third-party for errors and omissions
or professional negligence.
(iv) an Authority for fines and duty.

Exclusions: (i) the Insured is, or its subcontractor's or
agent's own illegal trade, dishonesty, infidelity or fraud,
collusion, malicious, wilful or deliberate act or reckless
conduct.

(ii) any provision in a contract with a customer verify
the insured incurs liability without fault or negligence
unless cover for the contract has been granted by the
insured and is noted within the Insurance Schedule.

(iii) any indemnity agreement or performance guarantee
with respect to time, or otherwise, or waiver not to rely
on any defence or limitation of liability, unless prior
written approval has been granted by the insured and is
noted within the Schedule.

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