Open AccessTHE LEGISLATION APPROACH OF THE THIRD PARTY LIABILITY INSURANCE FOR CONSTRUCTION DESIGNERS AND CONTRACTORS
Author(s) -
Violeta Keršuliene
Publication year - 2005
Publication title -
technological and economic development of economy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.634
H-Index - 47
eISSN - 2029-4921
pISSN - 2029-4913
DOI - 10.3846/13928619.2005.9637698
Subject(s) - liability insurance , business , insurance law , liability , insurance policy , casualty insurance , third party , legislation , general insurance , limited liability partnership , group insurance , actuarial science , law , income protection insurance , finance , political science , internet privacy , computer science
Compulsory Third Party Liability Insurance is ranked as one of the most risky kinds of insurance. In the course of introducing the compulsory Third Party Liability Insurance for construction designers and contractors in Lithuania the experience of foreign countries was used for setting the insurance object, the criteria for the insured events and the third party rights for insisting on liability (restitution) for damages.The article analyses the provisions of law of construction and by‐laws regulating compulsory Third Party Liability Insurance for construction designers and contractors as well as the object of the compulsory Third Party Liability Insurance and differences between the compulsory and voluntary Third Party Liability Insurance for construction designers and contractors have been outlined.The evidence and conditions of the insured events within the Third Party Liability Insurance are reviewed and the insured event has been distinguished from a number of other events.