The occupation liability insurance is a liability insurance for special occupations, about attorneys (occupation liability insurance for attorneys), architects and engineers, trustees and physicians
A normal operating liability insurance insures only requirements, which are placed due to damages to property or person or from these following financial damages (ex. acquisition loss).
The occupation liability insurance includes additionally also requirements because of the specific damage potential of these occupations into the insurance cover also. Example: A lawyer, who is made liable for covering by a mandator because of an error in the agency of its mandator (whereby the mandator e.g. loses the process and e.g. to high alimony pay must) enjoys here likewise, although neither a personal injury still another damage to property developed.
The use of the terms occupation liability insurance and operating liability insurance is however malicious, since by it in different regions of the world different is understood. Thus one understands a policy in Switzerland by occupation liability insurance, consisting of the conditions of the normal operating liability insurance for damages to property and person supplemental by a condition for the specific damage potentials of these occupations (ex. pure financial damages). In the anglo-saxon area however one understands the specialized covering component for these occupations by occupation liability insurance (Professional Indemnity Insurance or error & Omission Insurance); Damages to property and person from the general operating activity (ex. visitor in the law office slips on the freshly cleaned marble soil out) must be insured in a separate policy. In the international insurance transaction is recommended expressions before the use to therefore generally define, so that all taking part by it understand the same.
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