CARRIER AND COURIER LIABILITY INSURANCE POLICY
WHEREAS the Insured named in the schedule here to carrying or the business of
Common Carriers and none other for the purpose of this insurance has by a
proposal and declaration applied to THE NEW INDIA ASSURANCE CO LTD
(hereinafter called “the Company” for the insurance hereinafter set forth and has
paid or agreed to pay to the Company the premium, set out in the schedule as
consideration for such Insurance for the period stated in the schedule.
NOW THIS POLICY WITNSSETH that during the currency of this policy or any
further period for which it may be in force, subject to the limits, terms, provisions,
exclusions, exceptions, and conditions contained herein or endorsed hereon the
Company hereby agrees to indemnity the insured against his legal Liability for actual
physical loss of our damage to goods or merchandise directly caused by fire and or
accident to the vehicle leased to/ owned by the insured whilst such goods or
merchandise are actually transported in the said vehicle provided a loss has arisen
on account of fire accidents or negligence of the Insured or negligence or of his
servants notwithstanding whether that the vehicle is damaged by such fire or
explosion or accident and a claim in respect thereof is admitted under the Motor
Package Insurance Policy covering the vehicle. The Cover will commence with the
loading of cargo on the vehicle and will be in force until unloading of the cargo at the
discharging point after the first arrival as a courier which ever may first occur. The
cover also operates in course of the business of the insured as a courier and any act
of negligence on insured’s part as the courier is hereby covered. This policy is
extended to cover the following subject to the limits mentioned in the policy
schedule.
1. LOSS OR DAMAGE TO COURIER PARCELS / DOCUMENTS
Loss or damage to the parcels &/or documents by accidental external means not
belonging to the insured but whilst held in trust or in the custody or in the control of
the insured or his employees within the territorial limits specified in the Schedule
during the period of insurance.
2. LOSS OR DAMAGE TO INLAND TRANSIT CONSIGNMENTS
Loss or damage to the consignments &/or documents by accidental external means
not belonging to the insured but whilst held in trust or in the custody or in the control
of the insured or his employees within the territorial limits specified in the schedule.
3. LOSS OR DAMAGE OF AIRFREIGHT CONSIGNMENTS
Loss or damage to the consignments &/or documents by accidental external means
not belonging to the insured but whilst held in trust or in the custody or in the control
of the insured or his employees within the territorial limits specified in the schedule.
4. LOSS OR DAMAGE TO SHIPMENTS (BY WATERWAYS)
Loss or damage to the shipments &/or documents by accidental external mans not
belonging to the insured but whilst held in trust or in the custody or in the control of
the insured or his employees within the territorial limits specified in the schedule.
PROVIDED THAT the liability of the Company shall not exceed the sum of Rupees
stated in the schedule, in respect of any one accident or series of accidents arising
out of any one event or occurrence not the sum of Rupees stated in the schedule, in
respect of all claims arising during any one period of insurance but the Company will
in addition, pay all costs and expenses incurred with its written consent in defending
any claim made against the Insured.
EXCLUSIONS
This Policy will not respond to any Claim directly or indirectly caused by, based on,
for, arising out of, alleging or howsoever attributable to:
1. Any criminal, dishonest, fraudulent, wilful, intentional or malicious act.
2. Bodily injury to, or sickness, disease, emotional distress or death of any person, or
injury to or destruction of any tangible or intangible property, including the loss of use
thereof;
3. (a) False arrest, detention or imprisonment, (b) Libel, slander or defamation of
character, (c) Assault or battery, (d) Wrongful entry or eviction, or invasion of any
right of privacy.
4. Delay in performance or failure to perform any contract unless such Claim is
arising out of a Wrongful Act;
5. The actual or alleged non-performance of any of the Insured’s contractual
obligations to a third party whether by way of a Claim for the refund of fees or
otherwise;
6. Liability the Insured assumed under any contract or agreement, by way of
guarantee, warranty, penalty clause or any obligation deemed uninsurable under law
as well as the failure to meet any warranty or guarantee of the performance relating
to the Professional Services to be provided by the Insured;
7. Any guarantee of or the exceeding of cost estimates;
8. Arising out of the gaining of any profit or advantage to which the Insured is not
legally entitled; and/or return of fees, charges, commissions or any other form of
compensation for any Professional Services rendered or required to be rendered by
the Insured;
9. Any costs and expenses incurred by the Insured to comply with any warranties,
guarantees, representations or promises made in respect of the Insured's services,
software or electronic products. This includes, but is not limited to the Insured's costs
of repair or replacement of defective material, workmanship or products error
correction, system modification, product recall, withdrawal or inspection, delivery
time, completion time, financial savings or of any property of which such products or
work form a part;
10. Electrical failure, including any electrical power interruption, surge, brownout or
blackout;
11. Any infringement of patent, copyright, trademark, service mark or other
intellectual property right;
12. Any violation of any securities, anti-trust, restraint of trade, unfair trade practices;
13. The performance of or failure to perform Professional Services for any person or
organization or any Claim being asserted by any person or organization:
Which is or was owned, managed, operated or controlled directly or indirectly,
in whole or in part, by the Insured; or
Which does or did own, manage, operate or control the Insured directly or
indirectly; or
Which is or was affiliated with the Insured through common majority
ownership or control; or
In which the Insured is or was a director, officer, partner or principal
stockholder;
14. Any notice, Claim or legal proceeding which is known or pending prior to the
Policy Period; and/or
5. Any fact or circumstance of which written notice has been given by the Insured, or
ought reasonably to have been given, under any previous policy (whether issued by
the Insurer or not) or of which the Insured first became aware prior to the Policy
Period and which the Insured knew or ought reasonably to have known had the
potential to give rise to a Claim or Loss;
16. The presence of or the actual, alleged or threatened discharge, dispersal,
release or escape of Pollutants, or
17. Any direction or request to test for, monitor clean up, remove, contain, treat,
detoxify or neutralize Pollutants, or in any way respond to or detoxify or neutralize
Pollutants, or in any way respond to or assess the effects of Pollutants; by any other
person or organization covered under this Policy;
18. Unlawful discrimination on any basis whatsoever;
19. Injury or damage to:
the Insured's employee or an independent contractor working for the Insured;
or
the spouse or relative of such employee or independent contractor, as a
consequence of injury or damage to the employee or independent contractor.
This exclusion applies:
i) Whether the Insured is liable as an employer or in any other capacity; and
ii) To any obligation to share Damages with or repay someone else who must pay
Damages because of injuries or damage.
20. Claims for which the Insured, or any carrier as the Insured's company, may be
held liable under any worker's or unemployment compensation law, or disability
benefits law, or any similar law;
21. Any form of relief other than the payment of money Damages.
22. The insolvency, receivership, bankruptcy, liquidation or financial inability to pay
of the Insured or any third party including but not limited to any insurance company
in which the Insured has placed or obtained any insurance or bond; or arising out of
failure to effect or maintain any insurance or bond whether on the Insured's account
or that of another;
23. Any obligation for which the Insured or any carrier as its Insurer may be held
liable under any workers compensation, unemployment compensation or disability
benefits law or under any similar law relating to the welfare of the Insured's
employees, sub-contractors, self-employed consultants and or any other person
providing employment services;
24. The loss of Documents (of any nature whatsoever) whether written or printed or
material property which has been lost, mislayed or destroyed other than due to
negligence while entrusted to the care, custody or control of the Insured.
25. Arising out of a violation of the responsibilities, obligations or duties imposed
upon fiduciaries by the Employee Provident Fund Act of 1952 (India), Payment of
Gratuity Act, 1972 (India), the Employee Pensions Scheme, 1995 (India), the
Employee Retirement Income Security Act (USA) of 1974 or the Pensions Act 1995
(UK) or amendments thereto to any of the above or similar statutory or common law
of the United States of America or any state or jurisdiction therein;
26. Arising from war, invasion, acts of foreign enemies, hostilities (whether war be
declared or not) civil war, rebellion, revolution, insurrection, military or usurped
power or confiscation or nationalization or requisition or destruction of or damage to
property by, or under the order of any government or public or local authority;
CONDITIONS
Policy Territory and Claims Made Provisions
This Policy applies to Wrongful Acts occurring in India subject to the terms,
conditions and exclusions of the Policy and provided that:
The Claim is brought in India; and
The Claim for such Wrongful Act is first made against the Insured during the
Policy Period or any applicable discovery period; and
The Claim is reported in writing to the Insurer during the Policy Period or any
applicable Extended Reporting Period; and
The Claim alleges a Wrongful Act that occurred on or after the Retroactive
Date and the Insured did not know or could not have reasonably foreseen, prior to
the Retroactive Date, that such a Wrongful Act could lead to a Claim against the
Insured; and
The same Wrongful Act or continuous, repeated or related Wrongful Acts
were not contained in any Claim which has been
reported, and such Wrongful Acts were not the subject of notice, to an Insurer under
any policy of which this Policy is a renewal, replacement or which it may succeed in
time.
For the avoidance of doubt, this Policy will not respond to the actual or attempted
enforcement against the Insured within India of a judgment or award or any other
order obtained outside of India whether or not such judgment or award or any other
order is subsequently deemed enforceable by a Court within India. It is
acknowledged and agreed by the Insured that the premium for this Policy has been
calculated accordingly and no consideration has been paid in respect of liabilities
arising under any other law or the jurisdiction of any other Courts.
DEFINITIONS
Where the context so permits, references in this Policy to the singular shall also
include references to the plural and references to the male gender shall also include
references to the female gender, and vice versa in both cases. The words or
phrases defined below have a specific meaning. They have this meaning wherever
they appear in the Policy and are shown with an initial capital letter.
1. Claim means the demand against the Insured for money damage, and includes a
lawsuit or arbitration proceeding. Claims arising out of the same Wrongful Act or out
of a series of continuous, repeated or related Wrongful Acts shall be considered as
one Claim.
2. Damages means monetary sums payable pursuant to judgements and/or
settlements negotiated by or on behalf of the Insurer and consented to by the
Insured; provided, however, that Damages shall not include fines, penalties, punitive
or exemplary or the multiplied portion of multiplied Damages, non pecuniary relief,
taxes, or any amount for which an Insured is not financially liable, or which is without
legal recourse to an Insured, or any matter which may be deemed uninsurable under
the law pursuant to which this Policy is construed.
3. Deductible means the first amount of each Claim shown in the schedule, for which
the Insured is responsible.
4. Defence Expenses means all expenses incurred by the Insurer in any Claim
defended by the Insurer or incurred by the Insured with the Insurer's prior written
consent as well as all reasonable costs levied against the Insured in any such Claim
which does not exceed the Insurer's limit of liability. Defence Expenses shall all
include all reasonable expenses, other than loss of
earnings, incurred by the Insured at the Insurer's request. Defence Expenses shall
not include post-judgment interest.
5. Documents means any documents of any nature whatsoever including computer
records and electronic data material but does not include bearer bonds, cheques,
bills of exchange, coupons, stamps, bank or currency notes or any other form of
negotiable instruments.
6. Extended Reporting Period means the period of time as specified in the schedule
after the end of the Policy Period for reporting Claims, suits or proceedings arising
out of acts, errors or omissions occurring prior to the end of the Policy Period and
otherwise covered by this Policy.
7. Insured means the individual, partnership, corporation, joint venture or any other
entity named in the schedule, any Subsidiary and any partner, director, officer or
employee thereof but solely in the performance of Professional Services as stated in
the schedule.
8. Insurer means the Future Generali India Insurance Company Limited.
9. Loss means Defence Expenses, monetary sums payable pursuant to judgments,
awards and/or settlements negotiated by or on behalf of the Insurer arising out of a
Wrongful Act provided, however, that Loss shall not include fines, penalties, punitive
or exemplary Damages, non pecuniary relief, taxes, or any amount for which an
Insured is not financially liable, or which is without legal recourse to an Insured, or
any matter which may be deemed uninsurable under Indian law.
10. Policy means:
The schedule, insuring clause(s), definitions, exclusions, conditions, and
other terms contained herein; and
Any endorsement attaching to and forming part of the Policy either at
inception or during the Policy Period; and
The Proposal.
11. Policy Period means the period of time between the inception date shown in the
schedule and the effective date of termination, expiration or cancellation of this
Policy and specifically excludes any Extended Reporting Period hereunder.
2. Pollutants include (but is not limited to) any solid, liquid, gaseous or
thermal irritant or contaminant, including asbestos, lead, smoke, vapor, soot, fumes,
acids, alkalis, chemicals and waste. Waste includes (but is not limited to) materials
to be recycled, reconditioned or reclaimed.
13. Proposal means the application for insurance completed by the Insured and any
ancillary information and documentation supplied by the Insured in connection with
this insurance.
14. Professional Services means the performance by the Insured of the specified
Professional Services for a fee stated in the schedule.
15. Retroactive Date means the date, if any, set forth in the schedule.
16. Subsidiary means any corporation of which the entity named in Item 1 of the
schedule owns more than 50% of the issued and outstanding voting stock either
directly or indirectly through one or more of its Subsidiaries. Subsidiary includes any
corporation which becomes a Subsidiary during the Policy Period provided that
within 90 days of its becoming a Subsidiary:
The Insurer is provided full particulars of the new Subsidiary and
Subject to review and acceptance by the Insurer, any additional premium or
amendment of the provisions of this Policy required by the Insurer relating to such
new Subsidiary is agreed to and
Any additional premium required by the Insurer is paid when due.
This Policy does not cover any Claim against a Subsidiary or any partner, director,
officer or employee thereof for any Wrongful Act when the entity named in item I of
the declarations did not own more than 50% of the issued and outstanding voting
stock of such Subsidiary, either directly or indirectly through one or more of its
Subsidiaries.
17. Wrongful Act means any actual or alleged negligent civil act, civil error or civil
omission by the Insured on or after the retroactive date and solely in the
performance of the Professional Services.
18. Negligence means the failure to give enough care or attention. (As per oxford
dictionary) .
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