Engineering Insurance Additional areas of responsibility part of the interpretation of third-party

Category: Insurance tips Release Date: 2006-08-01

Standard wording as follows:

"In this the insurance period, as happened with the insurance policy covered accidents directly related to the project site and adjacent areas caused by third-party bodily injury, illness or damage to property according to law, shall be borne by the insurer bear the financial liability, The company provided the following terms to pay compensation.
Being insured for the above reasons, as well as legal fees paid in advance by the written consent of the Company to pay other expenses, the company also responsible for compensation.
The company caused by the amount of compensation for each incident to the court or the government departments concerned under the existing legal rulings shall be borne by the insurer to pay the amount subject. But in any case shall not exceed the insurance policy schedule specified in the corresponding compensation limit for each accident. During the insurance period, the Company under this insurance, the individual financial compensation to the above shall not exceed the maximum liability of the insurance policies set out in Schedule aggregate compensation limit. "

(A) liability insurance is based on the insured person as an insurance liability that may arise from the subject. However, as the subject of the responsibility of the insurance must meet the following conditions:

1, must be insured according to law shall bear the responsibility. Therefore, it must be a "court or the government departments concerned under the existing legal rulings," but this does not mean that all cases are required to pass the legal process. On the contrary the actual processing, the handling of many accidents are not resolved through legal procedures, but can be resolved through friendly consultations, but such consultations should be from beginning to end people's participation in the insurance and in accordance with the relevant provisions of the law carried out .

2, this responsibility usually refers to the insured person shall bear civil responsibility for financial compensation, rather than other responsibilities.

(B) engineering insurance third party liability insurance liability insurance belongs to the venue, therefore, the policy only insured occurred in the "construction site and adjacent areas" third-party liability insurance accountability. If the insured person outside the site generated by third-party liability insurance liability is not within the scope of this, and this is its site reflects the properties of liability insurance.

(C) engineering insurance cover third party liability insurance of the insured person's responsibility is engaged in "with the insurance policy works directly related to the" work process, the result of the occurrence "accident" and resulting responsibilities.

(D) Of course, engineering, insurance, third party liability insurance the insured person is the subject of third-party liability that may arise, but it does not mean that the insured person for all third-party liability insurance, third party are the responsibility of project liability insurance, engineering insurance, third party liability insurance is only distributed as part of the insured third party liability risks. Because the insured person to a third party's responsibility is often due to the insured person's violations arising from the two sides duty arises on the basis of law, this responsibility is relatively unlimited. The insurer for the insured person's liability is based on the insurance contract that both sides duty arises on the basis of the contract, this responsibility is relatively limited. Engineering insurance third party liability insurance responsible for addition to the above conditions, but also does not belong to the risk of exclusion resulting responsibilities. The insured person works for third party liability insurance is not necessarily the responsibility of third party liability insurance, the insured person's third-party liability insurance is only to meet a series of provisions could become a liability insurance.

(5) project insurance third party liability insurance is the subject apart from the insured person's financial liability, but also includes two kinds of costs: First, in order to avoid or reduce the liability that may arise from litigation costs; the second is "in advance in writing by this company agreed to pay for other costs, "the general purpose of such costs is to avoid or reduce the other responsibilities that may arise, such as the investigation and evidence collection expenses.

(Vi) material damage to areas of responsibility, as part of the project third-party liability insurance in addition to underwriting the risk of a "qualitative" restrictions, the same time, the insurer's liability to "quantitative" restriction. Third Party Liability in the quantitative restriction is used to limit and aggregate limit for each accident combined engineering insurance policies are usually in third-party liability insurance of liability under the compensation limit set two: one for each the compensation limit of the incident, that is the insurer of the insured due to an accident, third-party liability arising from the maximum amount of compensation; second period aggregate limits of liability insurance that the insurer within the period of insurance the insured person for all first - the three maximum amount of compensation liability.