Insurance glossary

Third-party motor liability

Minimum compulsory cover compensating only third-party damage; it covers neither the driver nor the vehicle.

Contractual liability

Incurred on poor performance or non-performance of a contract (written, oral or implied).

Tort liability

Incurred when an act harms another outside any contract; tortious if intentional.

Professional liability

Covers the financial consequences of bodily, material and immaterial damage to third parties through professional fault.