Page 29 - Liability Insurance IC74
P. 29

Guide for Liability Insurance

does not cover liability arising out of personal injuries
such as libel, slander, false arrest, wrongful
detention, mental injury, anguish or shock resulting
there from.

(b) 'damage' means actual and/or physical damage to
    tangible property. The term property may refer to
    all the legal rights possessed by a person in respect
    of material and immaterial things, including
    copyrights, patents etc. The policy does not cover
    liability arising out 'infringement of plans', copyright,
    patent, trade name, trademark, registered design etc.
    Legally these terms also come under the term
    'property'. Thus, under the policy, property means
    only tangible or material property.

(c) 'pollution' means pollution or contamination of the
    atmosphere or of any water, land or other tangible
    property.

(d) 'product' means tangible property after it has left
    the custody or control of the insured, which has
    been designed, specified, formulated, manufactured,
    constructed ,installed, sold, supplied, distributed,
    treated, serviced, altered or repaired, by or on behalf
    of the Insured, but shall not mean food and
    beverages supplied by or on behalf of the insured,

Sashi Publications - www.sashipublications.com  25

Copyright@ The Insurance Times. 09883398055 / 09883380339
   24   25   26   27   28   29   30   31   32   33   34