Civil liability insurance
Civil liability insurance refers to the civil liability of a business entity, incurred by that entity under the provisions of the law, in connection with conducting activities and possessing the property used in those activities, as well as with marketing products.
The rising insurance awareness of the claimants, the law changing to their benefit, the solutions modelled, among others, on those from the United States, make the “custom-made” civil liability insurance be a necessary element of business activities. The most important element of a civil liability policy is to determine the suitable sum insured, the suitable level of equity and the liability regime.
The damages on account of civil liability insurance is paid out only in the case of personal or property damage caused to a third party (including lost profits and damage resulting from gross negligence).