The Public Liability Insurance Act, 1991

The Public Liability Insurance Act, 1991

Finance199128 sections

The Public Liability Insurance Act, 1991, mandates that owners of industries handling hazardous substances must carry insurance to provide immediate relief to accident victims. It applies to anyone controlling such materials, including company directors and partners. This law is crucial because it operates on a "no-fault" principle, meaning victims receive compensation for death, injury, or property damage without needing to prove the owner’s negligence in court. By establishing the Environmental Relief Fund, the Act ensures quick financial support for the public, particularly those in economically vulnerable groups, while bypassing the hardships of prolonged legal delays.

PDF: pending for this language.