Globalization has heightened the necessity for businesses to assess liability exposure, regardless of their sector. Liability insurance, an emerging concept in India, shields policyholders from lawsuit-induced liabilities. With increasing multinational operations, PCIS manages various liability claims, including commercial general liability, product liability, carriers' legal liability, and professional liability, reflecting the evolving insurance landscape.
PCIS established a dedicated Liability Claims division long ago, offering investigation and legal insights for clients and insurers. Our specialized team, including legal professionals, ensures quality solutions. Our process involves immediate contact with insured parties, understanding claim details, advising on required documents for subrogation rights, analyzing root causes, verifying claim documents, suggesting litigation or settlement, computing losses, and promptly addressing insurer queries.
Insurers once relied solely on lawyers for liability claims, but we believe loss adjusters add value through investigation and document collection. With expertise, they advise on insurer liability, aiding in litigation decisions. Our track record of successfully concluding claims, accepted and appreciated by insurers, showcases our effectiveness in this realm.
Liability claims can arise from various incidents caused by someone's actions or negligence such as slip and falls, car accidents, product defects, professional negligence etc. Different policies are issued to cover different type of third-party liability risks involved.
Liability is typically determined by assessing negligence – whether the responsible party failed to exercise reasonable care. Liability claim covers compensation damages such as medical expenses, property damage, lost wages, pain and suffering, and other related costs. The consideration of claim is done based on coverage under the policy
Yes, many claims are resolved through negotiations and settlements outside of court. This can often save time and legal expenses.
Product recall coverage is covering expenses (specifically covered under the policy) incurred by the Insured or third party (in case of third-party recall) to rectify dangerous conditions and mitigate the potential for future losses.
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