Liability insurance protects your company from claims filed by third parties. Liability insurance is designed to compensate for the following:
Accidents may happen even if all precautions are taken. Accidents may bring along high financial costs that jeopardise the economic stability of your company. Even if you are not liable for causing damage, the costs of legal assistance incurred when objecting to a claim may be high. Liability insurance helps you to ensure the economic stability of your company.
The products offered differ from one another based on the type of liability. Liability is divided into that which arises in the course of insured general activities, due to a product manufactured or distributed, or through professional activity.
The purpose of the activity liability insurance is to compensate for the personal or material damage caused by the insured person to third parties due to the activities of the company. In addition, the insurance covers the costs of legal assistance that may arise.
It is usually believed that only those who work in riskier fields, such as construction workers, should take out activity liability insurance. They do have a greater risk of having an accident, but losses may arise from less risky activities as well. For instance, an accident may also occur in an office where a visitor may fall due to a slippery floor.
Product Liability Insurance covers the personal or property damage caused to third parties due to a defective product manufactured or distributed by the insured person. In addition, the insurance covers legal expenses that may arise.
Product Liability Insurance is essential for each company manufacturing or distributing products. Even if the products are safe, something may still go wrong, causing damage to third parties. Claims may turn out to be very costly.
Professional Indemnity Insurance covers the damage caused due to the provision of professional services. Legal expenses are also indemnified.
In addition to personal and property damage, professional indemnity insurance also covers pure financial loss that may result from the provision of professional services. Liability insurance is mandatory for some professions. Seesam offers professional indemnity insurance to solicitors, architects and designers.
The purpose of Employer´s Liability Insurance is to provide employers with insurance cover, compensating for the personal and property damage caused to an employee due to an occupational accident. In addition, the insurance covers legal expenses that may arise.
Occupational accidents are primarily associated with dangerous fields of employment, but, in reality, occupational accidents are also frequent in lower-risk fields of employment, including among office employees. Pursuant to law, an employer is liable for an occupational accident.