A Third Party Liability insurance indemnifies the third party for accidents that may occur and will be due to negligent acts or omissions of the insured person or his employees.
The compensation includes the expenses, which come directly from the rejection and satisfaction of third party claims against the policyholder, for any bodily injuries, loss of life of the victim and material damage to his assets, up to the amount specified in the insurance policy.
In the event that from a single negligent act or omission of the insured the victims are more than one, then the amount of compensation can not exceed the amount set in the insurance policy as a group accident.
The maximum compensation paid during the insurance period is defined as the maximum coverage limit in each insurance policy.
Coverage is not provided if the acts or omissions were caused by the deceit of the policyholder or the insured.
Liability insurance policies are available for personal and professional liability.
Find out from the ombudsman and your company.
