Why is this insurance important and specific?
The concept of general liability is pretty broad, with countless possible losses for the occurrence of which you may become liable. The scope of peril depends on the type of industry (hospitality, road maintenance, construction business, schools, hospitals or other) and other parameters. When you take out the insurance coverage against general liability, Dunav Insurance Company will provide you with legal and financial protection against the consequences of both valid and invalid liability claims.
What is insured?
General liability insurance covers the civil liability of the Insured against losses due to third party’s death, bodily injury or health impairment and/or damage to or destruction of third party property.
Which risks are covered?
The coverage applies to the liability for damages occurred in the course of your business or activities and/or from possession of objects and/or legal relation and/or a particular characteristic as a source of peril. This includes, for example, the liability from the use, ownership, lease or usufruct of land, business facilities and premises, liability incurred in the use of facilities by your workers etc. If specially contracted, the coverage may also apply to the liability for damages occurred due to theft and pure financial loss, as well as liability for damages resulting from the pollution of land and water.
What is the agreed insured value?
The insurance is concluded to the sum insured which represents the indemnity limit per any one occurrence. The sum insured for a personal injury and damage to an object is combined, unless otherwise agreed. In addition to the sum insured per any one occurrence, there is the aggregate sum insured which represents the total liability of the Insurer for the insurance period and is subject to contracting. The choice of an adequate sum insured is very important, bearing in mind that it generally represents the maximum possible amount of a third party’s claim.
What does the premium amount depend on?
The insurance premium amount depends on the selected cover limit, i.e. the sum insured per any one occurrence and in the aggregate, as well as on the source and class of peril, total revenues and special contracting.
What is provided for by this insurance and what are your obligations?
If a third party files a claim for compensation against you, we, as the Insurer, are obliged to participate in conducting the:
- defence against unfounded and excessive claims,
- settlement of founded claims and
- reimbursement of the legal expenses
What benefits can you expect?
bonuses and discounts may be granted depending on the scope of peril, insurance period, whether or not you incurred any liability losses in the previous few years.
If you wish to find out more about general liability insurance and/or have any specific requirements, you may contact our nearest branch office, business office or an outlet.