Third Party Risk Insurance

Third Party Risk Insurance aims to reimburse the amounts of money for which the insured person carries civil responsibility, in consequence of either a judicial judgment or an agreement expressly authorized by the insurance company, concerning reparation for personal or material damage that in a not voluntary way has been caused to third parties.

In connection with this insurance, personal damage and material damage are defined as follows:

  • Personal Damage: any disease or physical damage that is suffered by a person, as well as death and disability and any financial loss arising therefrom;
  • Material Damage: any physical damage that is caused to tangible properties, including all material damage related to the use of these properties.