The principle behind Liability Insurance is that the insurer will indemnify a loss that would be subject to being indemnified by the policy holder pursuant to the principles of civil liability.
The offered products differ from one another based on the type of liability. Liability is divided into that arising in the course of an insured activity, due to a product made or through professional activity.
While the maximum sum insured under Property Insurance is determined by the reinstatement value of the property, the client can choose the Liability Insurance amount on their own. Determining the sum insured is made difficult by the fact that upon entry into the contract it is not known what may happen during the insurance period and how great the damage is that will be brought about. If the actual loss exceeds the sum insured, the policyholder will compensate the loss exceeding the sum insured.
The purpose of General Liability Insurance is to compensate the personal or property damage caused to third parties by the policyholder due to a certain activity.
It is typically believed that a General Liability Insurance contract should only be concluded by those people who are working in a riskier field, for example, construction workers. In their case they may be at greater risk of suffering an accident, although damage may occur from lower risk activities as well. For instance, an accident may occur inside an office, where a visitor may suffer a fall due to a slippery floor.
The biggest inconvenience is certainly personal or property damage arising from the insufficient safety of a product.
According to the Product and Service Safety Act, a product is safe "if it, in reasonable conditions of use and taking the useful life into account and upon following the requirements for use, installation and maintenance in relevant events, ensures the safety and protection of the health of the person." If a product fails to comply with the aforementioned conditions, the manufacturer shall indemnify the damage caused and remove the product from the market.
The goal of Professional Liability Insurance is to provide liability insurance coverage related to one’s profession.
Professional Liability Insurance is usually regulated by additional documents, in which the situations and the amount of the possible loss against which a person is professionally liable are set forth.
Seesam offers Professional Liability Insurance to architects, designers and members of management.
Accidents at work are primarily associated with incidents occurring in more dangerous fields; however, in actuality, accidents at work also frequently occur in lower risk fields, including among office workers. According to law, the employer is responsible for accidents occurring at work.
The purpose of employer liability insurance is to offer employers insurance cover, compensating the personal and property damage suffered by employees due to accidents at work.