Civil liability Insurance - a type of property insurance that provides insurance coverage when the policyholder is required to repair damage caused to anyone as a result of a tort or contractor as a result of non-performance or improper performance of an obligation (contract).
Under the third party liability insurance contract, the insurance undertaking assumes the economic consequences of damages caused to third parties, provided that the insured is obliged to repair them based on tort liability (for illegal acts - Article 415 of the Civil Code) or contractual (for non-performance or improper performance of the contract - Article 471 of the Civil Code), including damage caused by persons for whom the insured is liable under the provisions of civil law. Liability insurance can be divided into compulsory and voluntary.
The limitation of the obligatory liability of the insurer is the so-called guarantee sum. In certain statutory cases, an insurance company may seek compensation from the policyholder for compensation paid to a third party (so-called atypical insurance recourse).
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