What Is Comprehensive General Liability Insurance?

Public liability insurance is also called general insurance or "comprehensive liability insurance". It mainly covers the economic compensation liability that should be borne by the insured in accordance with the law when the insured carries out production, operation or other activities in public places, due to the accident of other people, or the loss of property.

Comprehensive Liability Insurance

Right!

Public liability insurance is also called general insurance or "comprehensive liability insurance". It mainly covers the economic compensation liability that should be borne by the insured in accordance with the law when the insured carries out production, operation or other activities in public places, due to the accident of other people, or the loss of property.

Chinese name

Comprehensive Liability Insurance

Types of

Insurance

Start

Mid 19th century

Be insured

Assume financial liability

Policyholder

Factories, offices, hotels, residential

Also known as

General insurance

Scope of application

I. Coverage

The insurer agrees to pay all indemnities on behalf of the insured under the following contract.

1. Under personal liability: Anyone who suffers personal injury, illness, including death at any time, including damages, including care costs and loss of work.

2. Under the property damage liability: property damage or destruction caused by an accident, including compensation for loss of use.

The parties agree that the insurance provided here is limited to the operations under this insured subject and the personal injury, illness, death, or damage to property caused by the services related to this operation.

Second, defense, case closing, supplementary costs

Under this type of insurance provided by this policy, the insurer should:

1. Defend any claim against the insured for injury, illness, damage and recovery of damages, even if such claim is unfounded, false or fraudulent. After consulting with the insured, the insurer may investigate, negotiate, and conclude or proceed with a case that it considers advantageous.

2. The compensation is the cost of the deed of redemption of the detained property, which shall not exceed the applicable limit of liability under this policy, and pay the cost of the deed of appeal in the defense case. However, the insurer is under no obligation to apply for and provide such a contract.

3. Reimburse the costs incurred by the insurer, all the fees charged to the insured in the lawsuit, and all interest after the judgment before the insurer pays, pays off or deposits the judgment in court, but not more than The insurer's liability limit shall prevail.

4. In the event of an emergency, the insured pays for emergency treatment and surgery for others.

5. Reimburse the reasonable expenses incurred by the insured at the request of the insurer, excluding loss of income.

Definition of insured

The term "insured" is used without limitation to include the designated insured and also includes:

1. Any executive director, director, shareholder or employee performing his or her duties.

2. If the designated insured is a partnership company, the "insured" without limitation also includes any partner in the partnership, but only in terms of its responsibility.

3. Any individual, trust institution and property is responsible for providing insurance, ie insurance under this insurance policy, because the insured has signed a written contract or agreement, but this section only refers to the operations or representation performed by the designated insured The work performed on it may be the equipment owned or used by the insured.

Applications in the manufacturing industry:

Under normal circumstances, comprehensive liability insurance is purchased by the insured as the main insurance content. When the manufacturer or distributor has purchased comprehensive liability insurance but does not cover the product or the complete manufacturing process, then the manufacturer or distributor must separately Buy product liability insurance.

Comprehensive liability insurance coverage:

1. Premises-Operations: Legal defense litigation initiated to avoid personal injury or property damage caused by public accidents within the insurance coverage ^[1]

Development abroad

Because there are not many articles in this area and most of them talk about product liability insurance. Generally speaking, comprehensive liability insurance started in the mid-19th century and developed in the 1970s. The emergence and development of liability insurance is called

Status in China

Comprehensive liability insurance in China is still in its infancy, and is mainly affected by the risk environment, economic environment, legal environment and social environment. Compared with 40% to 50% of liability insurance in some western developed countries, China s liability insurance accounts for only about 5% of property insurance. The proportion of liability insurance in property insurance business is too low, which has become the insurance industry. The focus of attention not only indicates the backwardness of China's insurance industry, but also indicates the huge development potential of the property insurance and liability insurance markets. Compared with the "coldness" of liability insurance, auto insurance is "hot", and the position of motor vehicle insurance in property insurance accounts for nearly 70% can hardly be shaken, which almost controls the trend of property insurance business, and the insurance structure is unreasonable Development of overall business in the property and casualty insurance industry in China. ^[3]

At present, most of the insurance companies that can provide comprehensive liability insurance are foreign insurance companies such as Zurich Insurance, AON, etc., only domestic product liability insurance provided by PICC is involved in liability insurance. What is disproportionate is that the sharp increase in import and export business has increased the demand for comprehensive product insurance by enterprises. Based on this, there is still a lot of room for growth in comprehensive insurance business in China.