Type of insurance where the insurer is obliged to compensate the policyholder for the benefit that the policyholder is required to pay to a third party as a result of an event occurring during the insurance period. The insurance covers both in and out-of-court fees that arise from defending against the claim that is made by a third party, provided that the costs are commensurate to the circumstances. The insurer is not liable if the policyholder has wrongfully caused the event to occur, for which he/she is liable to the third party.
German: Haftpflichtversicherung (406)
Source: FMA AT m. e. E., 30.10.2018
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