General liability insurance

Offers, as an office liability insurance policy, protection from third-party claims in events of personal injury or damage to property, and for financial losses resulting therefrom. The amount of coverage should be tailored to the business at hand and should only in exceptional circumstances exceed the blanket sum of €3 m per injury. Coverage is provided, for example, for damage to rented property and office space through fire; more comprehensive policies, however, offer coverage under other circumstances, including while a business is still developing a product and has not yet offered it to a third party, even as a prototype.

From practice: Why company and product liability insurance make sense for Startup's.

Carelessness can be expensive

A crane operator wants to unload work equipment at a construction site. He is distracted for a moment and injured a passerby hard. The passerby claims treatment costs, but also compensation for pain and continued pay.

Errors during assembly work

A master electrician is called to relocate several lines in an office building. Unfortunately he damaged some cables so that it comes to short circuit after a while. The resulting fire causes considerable damage to the building. The causer is clearly identified, so that his insurance must pay for the damage.

Misuse of data

Due to poor planning and monitoring of the construction, an architect makes a serious mistake: The fire police regulations were not implemented correctly, so that now several major conversions are necessary. Since the workers have already been gone, it comes to significant additional costs and time delays. The homeowner looses rental income.

Disregarded traffic safety

A cleaner finishes cleaning a store just before the opening. On the still mirror-smooth floor an elderly lady slips and breaks her arm. The cleaner could have counted on the customer rush and had to point out the newly wiped floor accordingly. The insurance covers the costs.

Worth knowing about operating and product liability insurance for startups

The insurance is suitable for all tradesmen, freelancers and farmers.

Insured is - depending on the scope of the contract - the statutory liability, which may arise from the activities, characteristics and legal relationships of your insured operation, in particular the statutory liability for defects or wrong delivery of manufactured or delivered products. Is the obligation established to pay compensation, the employer's liability insurance pays out compensation benefits always up to the amount of damages, in maximum up to the amount of the contracted coverage levels. For some risks, there are separate coverage amounts set out in the contract.

The scope of the operating- and product liability insurance covers personal, material and consequential financial losses. Specific product asset losses are covered by the extended product liability insurance.

Their scope of services extends to the protection of claims of third parties, such as
• by the absence of guaranteed properties
• as a result of the defectiveness of goods, which only arise through the combination, mixing or processing of the delivered products with other products
• for useless costs incurred in processing or processing defective products
• for costs for removal and installation of defective products
• due to defects in processed or processed goods
• due to errors in delivered, assembled or maintained machines

For special occupational groups, a pure financial loss liability policy may be necessary, which also covers independent of a previous property or personal injury.

A liability insurance covers many claims, but it also includes exclusions.
Not insured are, for example:
• Damage that you suffer yourself
• Damage intentionally caused
• Damage that is not subject to the operational risk, such as Damage to commissioned goods or damage that is not attributable to the insured risk.
• pure financial loss