BANKING GENERAL KNOWLEDGE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Public Liability Insurance
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Negotiated Dealing System
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Trade Related Investment Measures
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Board for Industrial and Financial Reconstruction
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Detailed explanation-1: -Public Liability (Industrial) Insurance offers cover for third party liabilities (Bodily Injury / Property Damage) arising out of the premises and operations of the Insured and legal costs incurred in connection therewith.
Detailed explanation-2: -Product liability insurance protects against lawsuits arising from injury or death caused by their products. Indemnity insurance provides coverage to protect a business against negligence claims due to financial harm resulting from mistakes or failure to perform.
Detailed explanation-3: -A Commercial General Liability (CGL) policy protects your business from financial loss should you be liable for property damage or personal and advertising injury caused by your services, business operations or your employees. It covers non-professional negligent acts.
Detailed explanation-4: -Third Party Liability means insurance, or section of insurance, that protects the first party (You-the policyholder) from legal liability to a third party (The other person / property involved– i.e. the other car involved in a road traffic accident).
Detailed explanation-5: -[22nd January, 1991.] An Act to provide for public liability insurance for the purpose of providing immediate relief to the persons affected by accident occurring while handling any hazardous substance and for matters connected therewith or incidental thereto.