The Public Liability Insurance Act of 1991 received the assent of the President on January 22, 1991. This law was passed with the goal of "providing immediate relief to persons affected by accidents occurring during the handling of any dangerous substances and for matters connected therewith or incidental thereto” (Shastri, 2015) Say no to plagiarism Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? an original essayThe basic meaning of liability insurance is insurance, which is required when someone gets injured on the premises of your business. Places such as shopping malls, factories, clubs, etc for civil liability is designed in such a way that you are required to pay compensation for future loss of earnings, for current loss of earnings and also for damages awarded to the person claiming, in addition to legal costs for defending the claim and at the expense of the appellants legal costs which will be incurred if found guilty. Public liability insurance provides cover against claims made by members of the public who suffer and/or property damage in connection with the business. The law provides for insurance of people against damages arising out of any accident as prescribed by law and is of great help to the weaker sections of the society who deal with dangerous substances. Despite differences of opinion among judges, it is necessary to establish the law that the State, in its role as regulator, should assume responsibility for providing effective remedies against environmental risks. There have been recent legislative attempts to turn the doctrine of strict liability into law relating to the handling of dangerous substances and to place the state role of an arbitrator in deciding which disputes should be compensated. (Leelakrishnan, 2017) The law is in consonance with the spirit of Principle 13 of the Rio Declaration, wherein it aims to provide public liability insurance for the purpose of providing immediate relief to those affected during activities carried out while handling dangerous substances or accident. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay Liability insurance covers the event of an individual or business accident on your premises or their premises. To understand this, let's take the example of a small business that just opened in a shopping mall and a customer while trying on a dress, trips over one of the dresses that had been left on the chair and breaks his wrist when he falls. Liability insurance would cover expenses incurred if the customer files a claim against the newly opened business. Similarly, some movie shooting is taking place in a public place or tourist spot and while one of a cameraman's tripod is lying on the floor and a tourist while walking falls due to the tripod and gets injured, the insurance of civil liability will ensure that the cameraman was covered in case a member of the public made a claim against him.