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Allianz Ukraine Ins.Co. Lutsk Branch insured employer’s and manufacturer’s liability of Modern-Expo LLC. Total insured amount under the two agreements was USD 5.5 million.
Under the first insurance agreement, a loss event is inception of liability of Modern-Expo for doing damage to life, health, or property of the company’s employees at the time of their performing official duties. The limit of liability was USD 500,000.
The insured amount to the extent of manufacturer’s liability insurance was USD 5,000,000. In case of a loss event occurrence, Allianz Ukraine Ins.Co. shall undertake to indemnify losses to the client caused by a necessity to indemnify losses for damage done to life, health, or property of third parties through any faults, defects in the manufactures products, for damage caused by provision of incorrect or incomplete information on the products. |
