- What types of liability does this insurance cover?
Commercial liability insurance covers the legal obligation of the insured to compensate for damage incurred by another person in direct connection with the insured’s activities or relationship for which the insurance is arranged. The insurance also covers the insured’s obligation to compensate for damage incurred in connection with ownership, possession or other authorised use of immovable property used to perform activities specified in the insurance policy. Furthermore, the insurance covers the obligation to compensate for damage caused by a defect of a product or work that becomes evident after the handover.
- What is the subject-matter of commercial liability insurance?
The subject-matter of the insurance is damage to third-party property and health in connection with business activities, damage caused by a defective product and also damage caused by defective work after handover.
- What does the commercial liability insurance cover?
It covers damage that the insured may cause to life, health or an item. The insurance also covers consequential financial loss. The insurance also covers damage incurred by the insured due to operational activities, the exercise of ownership rights, management and possession of immovable property or a defective product.
- What is a general liability for damage?
The insurance is taken out to cover situations where the policyholder’s business activities cause harm to another person’s health, life or property, for which the policyholder is responsible according to legal regulations. The insurance also covers consequential financial loss and liability arising from the possession, ownership or lease of immovable property.
- What assets can be insured?
The subject-matter of the insurance is constructions, buildings, building components and appurtenances. It also includes stocks, own movable assets, third party’s items used or taken, documentation, money, valuables and valuable items or items of special artistic, historical or collectible value. You can insure objects that you own or administer, leased premises, items taken over for work or used items.
- What is covered by product liability insurance?
In addition to general liability insurance, it is also possible to take out supplementary product liability insurance. If the insured is a manufacturer and your product causes harm to health, death or damage to third-party property due to a defect, the insured is liable for the damage thus incurred.
- What is covered by supplementary liability insurance for items taken over or used?
In addition to general liability insurance, it is also possible to take out supplementary insurance of liability for items used and taken over. This is a type of supplementary liability insurance covering third party’s items that the insured has taken over for the purpose of performing ordered activities (e.g. processing, repair, adjustment, custody, sale, storage, professional assistance etc.) or that the insured legitimately uses in the event those items are damaged or missing. This supplementary insurance does not cover the means of transport.
- In which cases is it possible to apply supplementary insurance of liability for items brought by employees and third parties?
In addition to general third-party liability insurance, it is also possible to take out supplementary insurance of liability for items brought by employees and third parties. Items are considered to be brought if they have been brought to the insured’s premises reserved for storing objects or if they have been handed over to the insured or any employee of the insured for this purpose and the insured is responsible for the items.
- What is the recourse of health insurance companies?
As part of general liability for damage, the recourse of health companies is also insured for employees and third parties. It covers compensation for the insured’s treatment costs paid by the health insurance company to the health care facility from public health insurance funds where the insured is liable for the damage. Similarly, this supplementary insurance also covers damages to be paid to health insurance institutions.
- What is not covered by the insurance?
As standard, insurance does not cover vessels, aircrafts, rolling stock, plots of land, plants, vegetation, mineral deposits, surface and underground water, acts of war, strikes, terrorist acts, chemical and biological contamination, acts of state or public administration, effects of nuclear energy or losses caused intentionally by the insured, the policyholder or the authorised person. Furthermore, the insurance company is not obliged to pay insurance benefits if the insured has committed a crime. Insurance exclusions are described in more detail in the relevant insurance terms and conditions. In some cases, compensation may be limited by law or a contract. The exact limitations of your insurance are set out in your insurance policy.
- What insurance risks does this insurance cover within business assets?
- It covers natural hazards (fire, explosion, lightning strike, aircraft crash, flood and flash flood, windstorm and hailstorm, landslide, earthquake, water pipe damage etc.), theft, vandalism (including graffiti), robbery of transported money or valuables, damage to or breaking of glass, damage to or destruction of a machine or an electronic device, discontinued operation due to material damage, or damage or theft during road transport.
- How is the benefit determined in the event of damage?
The insurance provides compensation for the costs of repairing or reacquisition of the subject-matter of the insurance due to its damage, destruction or loss caused by arranged insurance risks. The maximum amount of property insurance benefit is determined based on the insured value (the sum insured or indemnity limit) and, in the case of third-party liability insurance, based on the arranged indemnity limit. The exact coverage of your insurance is set out in your insurance policy.