THE LEGISLATION APPROACH OF THE THIRD PARTY LIABILITY INSURANCE FOR CONSTRUCTION DESIGNERS AND CONTRACTORS
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.