OREANDA-NEWS. December 30, 2011. Over the reporting period, Allianz Ukraine Insurance Company has made 307 liability insurance agreements with an average premium of UAH 40,299. Compared to the same period of the last year, total premiums collected on this type of insurance grew by 45.8% from UAH 8,483,782 to UAH 12,371,925 and makes 9.4% of the company's portfolio.

The biggest number of agreements (120) was made for third party civil liability insurance. The amount of premiums collected on this product totaled to 43.8% or UAH 5,420,267. Considerable amounts were also collected on professional liability insurance – UAH 3,325,604 (26.9%).

"Our customers most often sign third party civil liability insurance agreements for two reasons. Firstly, if their signing is provided for by lease agreements. In such cases, they often cover liability for damage, including damage insured by the leased premises. Secondly, if the customer's shareholder, owner or partner is a foreign company with a developed insurance culture" – said Aleksandra Nevedomskaya, leading specialist of the Property Risk Underwriting Department, Allianz Ukraine Ins.Co. "Professional liability insurance is highly sought by people, whose professional error may significantly blacken their reputation or inflict considerable financial loss. In Ukraine, the typical example of such professions can be lawyers, auditors or assessors".

Third party liability insurance and product liability insurance earned the company premiums of UAH 1,032,798 (8.3%).

"The buyer of such policy may be, for instance, a restaurant business owner. In this case, the policy covers his liability to the customers for say poisoning by food/drinks, negligence of the personnel, slippery floor; liability to the owner of the premises (in case of lease) and neighbors, for instance for fire or water flooding; as well as third party liability for the fall down of signs, advertisement posters", – added Aleksandra Nevedomskaya.