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The Public Liability Insurance Act in New Delhi requires owners of hazardous substances to take out liability insurance before hiring workers. The law compensates workers for injuries or damages sustained and caps the maximum amount of liability insurance at Rs 50 million. Central, state and local governments are exempt from the provisions of the law. Landlords must meet certain legal requirements for the amount of insurance they must take out in relation to the business. The Indian government and the companies it controls are exempt from the requirements if a fund exists to compensate workers for injuries.
The Public Liability Insurance Act is legislation passed by the Government of New Delhi. The person who owns or controls the handling of hazardous substances is required by this law to take out liability insurance before hiring workers to handle such substances. The law protects workers from injury, death, or property damage resulting from working with hazardous substances, and the owner will be held liable without the worker having to prove that the owner acted negligently or in any wrongful way. The law caps the maximum amount of liability insurance that the owner must take out, which is Rs 50 million. Central, state and local governments are exempt from the provisions of the law, including any company controlled by a government agency.
The goal of the Liability Insurance Act is to compensate workers who are injured on the job when working with hazardous materials. Employers must obtain sufficient liability insurance to ensure that they are able to compensate workers for injuries or damages sustained. A worker can often file a claim for medical expenses, but also to collect current and future lost earnings. For example, a company employee who suffers burns can file a claim under the act and be paid for hospitalization costs and the wages he loses when he recovers. The worker often does not have to prove that the owner was negligent and that his negligence led to the injury in order for the worker to successfully file a claim.
Landlords must meet certain legal requirements for the amount of insurance they must take out in relation to the business. The value of the insurance policy cannot be less than the company’s paid-up capital. The Liability Insurance Act defines paid-in capital as the market value of all shares and assets of the business on the date the owner signs an insurance contract. The law stipulates that the owner must not withdraw more than 50 million rupees. The landlord is often not liable for more than the amount covered by the insurance policy.
The Indian government and the companies it controls are exempt from the requirements of the Public Liability Insurance Ac, if a fund exists to compensate workers for injuries. The fund must be sufficient to meet the needs of workers as required by law. The government is often not required to take out a liability insurance policy.
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