There are many circumstances when an individual may incur losses as a result of his/her actions towards other people or their property.
Examples of Personal Liability are when:
- The individual’s pet bites and injures someone
- Potted plants fall from an individual’s apartment and injures a passer-by
- The individual’s child damages other peoples’ property while playing soccer
- A fire starts from the individuals home and spreads to someone else's home
Types of Liability Insurance:
1] Workmen’s Compensation – This is liability under statue, it is compulsory
2] Common Law Liability of employers – Usually included in Workmen’s Compensation policies
3] Public Liability – This is Common Law for death, injury, property damage to non-employee third-parties
4] Products Liability – Third-party liability arising from defective products
5] Professional Liability – Third-party liability concerned with mistakes or negligence of Professionals (doctors/lawyers/accountants)
6] Personal Liability – Covers sums the Insured is legally liable to to pay as damages to third-parties
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