Did You Know? Liability Insurance

Did You Know? Liability insurance

Have you ever imagined that you may have legal responsibility for an incident?

In certain circumstances, you may have legal responsibility for third party’s damages and lawsuits. Liability Insurance will covers you from legal responsibility and lawsuits for these loses. Liability Insurance is generally owned by person or organization to protect them from risks of liabilities and lawsuits related to their business activity.

Generally, Liability Insurance policies are designed to give financial protection from risks of liabilities and will give coverage as follows: 

  • Third party material damage loss
  • Third party death and bodily injury
  • Legal costs

However, please be noted that not all risks of liabilities will be guaranteed by the policy and generally Insurer will exclude anything related to asbestos, the Insured itself (including family member and with whom Insured resides), worker’s compensation, product recall, liability due to war and natural phenomena(*).

The policy also have a limit of responsibility, which is how much it can be paid out per claim. As well as the limit on total amount that can be paid during the insurance period.

(*)Please refer to your policy for the detail of coverages and exclusions. If there is any difference between this information and the policy, the condition expressed in the policy/ clause shall prevail.

Shall you need further information about Liability Insurance, please feel free to contact us at 021 - 2523110 and we would be pleased to assist you.

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