IFFCO Tokio Commercial General Liability Insurance

IFFCO Tokio Commercial General Liability Insurance is one of the most preferred liability plans across the world. It covers your business against possible third-party claims - physical injury, property damage, and personal injury. Moreover, it offers a combination of product and premises liability with useful add-ons.

₹1 Crore cover starting at ₹4,720/year⁺

Safeguard your business against

claims of bodily injury

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Features of IFFCO Tokio Commercial General Liability Insurance

IFFCO Tokio CGL Insurance is designed to provide comprehensive coverage to businesses. The key features of the plan include:

Combined Product and Premises Coverage: It covers liabilities originating from both products and business premises.

Extended Coverage: In addition to bodily injury and property damage, the policy also covers reputational damage to third parties.

First and Third-Party Losses: IFFCO Tokio CGL Insurance covers losses that occur due to fire incidents during the course of business operations.

No-Fault Medical Coverage: It pays for basic medical care for accidental injuries without the need to establish fault.

High Limit of Indemnity: The plan offers a maximum limit of indemnity up to INR 35 crores.

IFFCO Tokio Commercial General Liability Insurance Inclusions

IFFCO Tokio CGL Insurance covers the following:

Third-Party Bodily Injury or Disease: The policy covers legal liabilities resulting from bodily injury, disease, or accidental death to third parties.

Third-Party Property Damage: It also compensates for loss of or damage to third-party property because of your business activities.

Product Liability: It covers liabilities that occur due to defects in products after they have left your premises.

Premises Liability: It covers claims arising from accidents that occur at your premises, as well as at any other location where you carry out your business or operations.

Completed Operations Coverage: It includes coverage for completed operations like commissioned machinery and designed interiors.

Disclaimer: This is not a complete list. Please read your official policy documents carefully for full details on all inclusions.

IFFCO Tokio Commercial General Liability Insurance Exclusions

IFFCO Tokio Commercial General Liability Insurance does not cover liabilities related to the following scenarios:

Railways, Aircraft, and Watercraft: The policy does not cover claims associated with these modes of transport.

Asbestos: It does not compensate for claims arising from asbestos-related incidents.

Tobacco and Electromagnetic Fields (EMF): The policy does not extend coverage to claims related to tobacco products and EMF exposures.

Professional Liability: The policy excludes liabilities arising from professional services rendered. To cover such risks, one should opt for Professional Indemnity Insurance.

Food Products: It does not cover food products, such as processed food, milk products, meat, etc.

Directors & Officers Liability: It does not cover claims against directors and officers of the company. It is covered under the Directors & Officers Insurance plan.

Disclaimer: This is not a complete list. For full details on all exclusions, please refer to your official policy documents.

IFFCO Tokio Commercial General Liability Insurance Claim Process

Here are the steps to initiate a claim with IFFCO Tokio Commercial General Liability Insurance:

Notification: Inform IFFCO Tokio about the incident immediately.

Documentation: Submit the necessary documents, including the claim form and any supporting evidence.

Survey: IFFCO Tokio will appoint a surveyor to inspect your site and submit a claim report.

Assessment: IFFCO Tokio will assess the claim based on the information provided.

Settlement: Upon approval, the claim will be settled as per the policy terms

FAQs

Who should consider buying IFFCO Tokio Commercial General Liability Insurance?

Ans: Businesses that are involved in manufacturing, distribution, or operations and interact with third parties should consider this insurance.
Does the policy cover liabilities arising from advertising?

Ans: Yes, the policy includes coverage for personal and advertising injury liabilities, including defamation, libel, or copyright breach
Are defense costs covered under this policy?

Ans: Yes, the policy covers legal defense costs incurred in defending against covered claims. It is subject to the terms and conditions outlined in the policy.
What is the maximum limit of indemnity offered?

Ans: The policy offers a maximum limit of indemnity up to INR 35 crores.
What types of businesses are eligible for CGL Insurance?

Ans: A wide range of businesses can opt for CGL Insurance. It includes manufacturers, distributors, service providers, and contractors.