General third-party liability insurance (GTPL)
Coverage: third-party liability of the entrepreneur for personal damage or damage to property of third parties in relation to the entrepreneur’s business, use of property or marketing of a product (third-party liability for the product).
There are various causes of damage that require remedy of the damage in accordance with the relevant act: from tripping on a damaged footpath to the spreading of fire onto adjacent buildings. With liability insurance, the entrepreneur does not have to pay damages, which, combined with legal defence costs, may be a significant financial burden, particularly as the indicated damages or compensation may also have the form of long-term benefits, e.g. disability pension due to personal damage.
The type and scope of coverage always depend on the type of the entrepreneur’s business. We always customise them to the Client’s individual needs.
It is important in this context to select correct clauses and sums insured. Just like in any other insurance, it is important to pay attention to any exclusions and modify them accordingly (e.g. exclusion of the employee’s wilful misconduct) or complement coverage with additional products (e.g. professional liability insurance, compulsory liability insurance, product recall costs).