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    Legal Updates

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    Law Update (June 2002)
    Lideika, Petrauskas, Valiūnas & Partners
    June, 2002
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    Insurance

          On 30 April 2002 the Board of the State Insurance Supervision Service under the Ministry of Finance of the Republic of Lithuania by Resolution No 78 approved the Rules of Compulsory Civil Liability Insurance of a Construction Designer and by Resolution No 79 approved the Rules of Compulsory Civil Insurance of a Contractor, which provide for civil liability insurance of such persons against any loss incurred to third persons. The term of the insurance agreement on the construction designer’s civil liability

          insurance against collapse or defects of the construction may not be shorter than 5-year guarantee term set forth in Article

          6.698 of the Civil Code, and the term of the insurance agreement on the contractor’s civil liability insurance against improperly performed construction works during the validity term of the agreement, may not be shorter than 2 years.

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