This type of insurance protects a trading company from financial losses that may arise in the event of damage to third parties as a result of its acts or omissions. The insurance covers the company's liability for losses that may be caused to the health, life or property of third parties, as well as for other types of damage related to the conduct of business activities.

For example, insurance coverage may include compensation for expenses related to damage to third-party property as a result of accidents or unintentional incidents that occur in the course of business. It may also cover when a customer or visitor is injured on the premises or as a result of the business. In addition, the insurance can cover losses due to improper performance of services or delivery of substandard products.

Such insurance not only provides financial protection, but also helps to strengthen the company's reputation by demonstrating its willingness to be held accountable for its actions. Depending on the terms of the insurance contract, the coverage may cover different types of business activities, types of losses and risks, which makes it an important tool for risk management and business stability.

What does the insurance cover?

Losses Related to Harm to Life or Health

• Damage to the life or health of a third party, including moral damages.

Property Damage and Destruction

• Losses resulting from damage to or destruction of third-party property.

Financial Losses Due to Health or Property Damage

• Financial losses resulting from injury to third parties or damage to their property, including:
• Temporary rental expenses while the damaged property is being repaired.
• Financial losses of third parties not directly related to property damage, such as loss of income during periods when the third party is deprived of or restricted from using the property.

Environmental Pollution Prevention

• Expenses related to preventing sudden and unforeseen pollution of the environment.

Legal and Litigation Costs

• Legal and litigation expenses incurred as part of resolving claims.

Expert Examination Costs

• Costs associated with expert examinations.

What Factors Influence the Cost of the Policy?

Coverage Amount

• The sum insured or the limit of liability.

Sub-Limits for Specific Losses

• The limits set for different categories of loss.

Business Type

• The nature of the business and the specific activities it engages in.

Business Premises and Equipment

• The characteristics of the business premises, as well as the type and condition of machinery and equipment used.

Business Turnover

• The financial volume or revenue generated by the business.

Number of Employees

• The total number of employees working in the business.

Work Experience

• The length and extent of experience in the business sector.

Types of Covered Losses

• The specific types of losses covered by the policy.

Policy Excess

• The amount that must be paid out-of-pocket before the insurance coverage kicks in.

Previous Loss History

• The record of past claims and losses related to the business.