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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.

Term-Nr.: 536

German: Haftpflichtversicherung (406)

Source: FMA AT m. e. E., 30.10.2018

Notice: The contents of this terminology collection Lawpedia® with a focus on business law (especially financial market law) have been researched with great care and compiled on the basis of an extensive flash card, training materials and literature. The various sources (as far as they could be found) can be found in the abbreviations and source references. References to other sources are welcome. Despite the care taken, the provider cannot accept any liability for the accuracy, completeness and topicality of the information provided. The information is of a general nature in particular and does not constitute legal advice in individual cases.

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