Liability Insurance is a type of policy that offers protection against risks arising out of legal liabilities resulting in third party property damage, financial loss and injury. These insurance policies offer protection to individuals and businesses from legal payouts that the policyholder is liable to pay or issued for. However, intentional damages, criminal prosecution and contractual liabilities are not covered in a liability insurance policy. These type of policies are structured from a risk perspective of the entity or individual that is to be insured. Considering the complex business environment that we operate in today and the nature of stakeholders to hold services partners legally responsible for operations undertaken by them these type of policies have assumed a greater significance as business enablers rather than only balance sheet protection.
Given the complex and time-sensitive nature of operations of today’s business and dependence on various stakeholders that ensure deliverables, the need for well-defined liability insurance program assumes a greater significance on the insured organization. The legal environment has also undergone a significant change and the proactive legal system through courts have not only held wrongdoers guilty but also imposed steep awards for compensation to aggrieved parties. Increased corporate governance, focus on green compliance etc have also increased the exposure for the business. The Indian customer today not only recognizes these risks but also appreciates the increased legal cost for a defence that necessitates such programs. Due to the global nature of business operations, these type of policies have also become a necessary part of contractual compliance as well as popularly seen in the export of services and products.
At Zoom Insurance, we have a dedicated team that is composed of subject matter experts in both the product placement side but also claims management. We have excellent relationships with liability underwriters at Insurance companies that allow us to help our customers in arriving at an insurance program that fulfils their business requirements.
Zoom’s Financial & liability Solutions team will work with you to ensure:
At Zoom Insurance, we offer a varied spectrum of insurance products, each designed post an exhaustive understanding of the client business and requirement. We ensure correct placement and the right cost of premium to ensure sustainability of the insurance program. We work on various insurance products some of which are given below: