Coverage for your activity
A public liability insurance (business liability insurance, conventional product liability insurance) provides insurance cover for obligations to pay compensation which the policyholder accrues from bodily injury or property claims on the basis of statutory liability terms under private law.
Usually, a liability insurance consists of five elements of contract:
Basic cover modules
The general provisions consist of contractual clauses that apply to all elements of contract. This also includes a company description, a list of insured persons and companies and also the uninsured risks (exclusions).
The second part focuses on premises risks, for example risks of property-ownership, the operation of fork lift trucks, processing machines and the general legal duty to maintain safety etc.
The third contractual part deals with conventional product liability risks, and governs product liability, that is, the legal liability for property damage or personal injury and further losses arising therefrom, caused by a faulty product designed, manufactured or supplied by the business of the insured or caused by work or other services provided by him.
Environmental liabilty insurance provides protection for the legal liability under private law of the policyholder as a result of property damage or personal injury caused by environmental impact, where this environmental impact was caused by or emanated from insured plant and installations or activities.
The fifth contractual part concerns the environmental impairment insurance, and includes insurance cover for the legal obligation under public law governed by the German Environmental Damage Act to restore polluted environments (damage to protected species and natural habitats, water bodies and soil).
Extended product liability
The basic product liability coverage can, as circumstances require, be extended. The extended product liability cover provides coverage for financial losses incurred by customers from industry and trade on account of statutory liability provisions, arising, for example, from:
- Combining losses, mixing losses, workmanship defects
- Damage caused during further processing or processing damage (product protection)
- Costs for dismantling and installation
- Damage due to defective machines, and optionally
- Testing costs and sorting costs
Even though insurance cover does not apply to all financial losses (e. g. claims for contract performance or should damages be claimed in lieu of performance), insurance benefits are provided for contractual arranagements that go beyond any legal liability. You can select between different modules:
- Extension of the legal periods of limitation and warranty periods (warranty for defects) – Note: limited in time
- Simplification of the commercial obligation of inspection, notification and rejection of incoming goods in accordance with Section 377 of the German Commercial Code (§ 377 HGB)
- Inclusion of the 'retail chain clause'
Your individual cover options
As deas client, you benefit from modules which are well beyond common insurance coverage and which are tailored to meet your requirements, for example: recall costs insurance, product liability insurance, environmental liability insurance and environmental impairment insurance. We arrange international insurance programs including DIC (difference in conditions) and DIL (difference in limits) solutions for you that are tailored to fit your individual needs.
In the liability insurance segment, we offer the following insurance coverages:
- Public liability insurance
- Product liability insurance
- Extended product liability insurance
- Environmental liability insurance
- Environmental impairment insurance
- Recall costs insurance
- Product safety, ransom, extortion insurance
- Pecuniary damage liability insurance
- D&O insurance (Directors and Officers)
- M&A insurance (Mergers and Acquisitions)