Write short notes on: (i) Public Liability Insurance

Public Liability Insurance Act, 1991 deals with providing the compensation for damages to victims of an accident of handling any hazardous substance or it is also called, to save the owner of production/storage of hazardous substance from hefty penalties. This is done by proving compulsory insurance for third party liability. As from the name of the act, it is Public Liability. The owner is put on anvil to provide the compensation/relief, when death or injury to any person (please note-other than a workman) or damage to any property has resulted from an accident of hazardous substance. Actually the owner shall buy one or more insurance policies before he/she starts handling any hazardous substance. When any accidents come to the knowledge of the Collector, then he/she is required to verify the occurrence of the accident and order for relief as he/she deems fit.