Liability insurance refers to a kind of insurance that takes the legal compensation risk of insurance customers as the underwriting object. It belongs to the category of generalized property insurance, which is suitable for the general management theory of generalized property insurance, but it has its own unique content and management characteristics, so it is an insurance business that can form a system independently.
According to the different business contents, liability insurance can be divided into five types: public liability insurance, product liability insurance, employer liability insurance, professional liability insurance and third party liability insurance, and each type of insurance consists of several specific types of insurance.
Public liability insurance Public liability insurance is a kind of liability insurance that insures institutions, enterprises, institutions and individuals from personal injury or property loss caused by negligence or accidents in economic activities.
There are many forms of public liability insurance, including general liability insurance, comprehensive liability insurance, place liability insurance, elevator liability insurance and contractor liability insurance.
Office buildings, restaurants, factories, shopping malls, public entertainment places, etc. Organs, enterprises, institutions and individuals can pass on this risk by taking out public liability insurance.
Product liability insurance Product liability insurance refers to the underwriting responsibility for personal or property losses of others (generally consumers) caused by the defects of the product itself. Product liability insurance guarantees the liability for personal injury or property loss caused by products to others.
Employer's liability insurance Employer's liability insurance refers to an insurance in which employees employed by the insured suffer from business-related accidents or occupational diseases stipulated by the state in the course of employment, resulting in injury, disability or death, and the insured shall bear the medical expenses and economic compensation responsibilities according to the Labor Law of People's Republic of China (PRC) and the labor contract, and China People's Property Insurance Co., Ltd. shall be responsible for compensation within the prescribed compensation limit. Foreign-funded enterprises, private enterprises, domestic joint-stock companies, state-owned enterprises, institutions, collective enterprises and all kinds of enterprises contracted by collectives or individuals can take out employer liability insurance for their employees.
Occupational liability insurance Occupational liability insurance is an insurance whose subject matter is the economic compensation liability that all kinds of professional and technical personnel should bear according to law because of negligence or negligence in professional and technical work.
Third party insurance
Third-party liability insurance refers to the economic responsibility that should be borne by the insured according to law, and the insurance company is responsible for compensation if the insured or its licensed driver has an accident in the process of using the insured vehicle, resulting in personal injury or direct loss of property to a third party. At the same time, with the written consent of the insurance company, if the insured suffers arbitration or litigation costs, the insurance company shall pay compensation exceeding the liability limit, but the maximum shall not exceed 30% of the liability limit.