MoEFCC Notifies Public Liability Insurance (Amendment) Rules
In News
What Happened
Why It Matters
Background
History & Context
What Changed
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Insurance Limits: BEFORE, the maximum policy limit was Rs. 5 crore per incident and Rs. 15 crore for multiple accidents. NOW, it has been increased to Rs. 250 crore per incident and Rs. 500 crore for multiple accidents in a policy year.
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Fund Management: BEFORE, the United India Insurance Company Limited managed the Environment Relief Fund. NOW, the Central Pollution Control Board (CPCB) acts as the Fund Manager for a tenure of five years starting January 1, 2025.
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Claim Eligibility: BEFORE, claims for property restoration were narrower in scope. NOW, individuals who hold an interest in the affected public property and can demonstrate a direct, substantial connection can also file claims for restoration.
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Fund Allocation and Adjudication: BEFORE, manual processes caused administrative delays. NOW, the CPCB must develop an online portal for fund disbursement, and Adjudicating Officers are mandated to complete inquiries within six months.
Prelims Angle
NCERT Connection
Practice Questions
Q1
Correct Statement(s)With reference to the Public Liability Insurance (Amendment) Rules, 2024, which of the following statements is/are correct? 1. The maximum insurance policy limit per incident involving hazardous substances has been increased to Rs. 250 crore. 2. The Reserve Bank of India (RBI) has been appointed as the new manager of the Environment Relief Fund (ERF).