Third Party Liability Insurance

The coverage under this insurance is to indemnify against the Insured’s legal liability for bodily injury or property damage of third party arising from the Insured’s negligence or wrongful acts. The compensation to third parties for medical expenses and/or repair costs for his/her car due to motor accident, which is covered under Motor Insurance, is one form of third party liability insurance. There are various forms of third party liability insurance policies; here are a few examples of liability insurance;

Public Liability Insurance

Product Liability Insurance

Professional Indemnity Insurance

Directors’ and Officers’ Liability Insurance

The diversity of professions and functions covered by the policies necessitates the use of more than a single policy form.