TPPD liability definition
TPPD liability means a liability for damage to property of any third party caused by or arising out of the use of a motor vehicle in Hong Kong which, at the time such damage occurred, was insured by a TPPD policy.
Examples of TPPD liability in a sentence
Where such novation or agreement has been arranged to the satisfaction of the Insurance Authority, he shall forthwith notify M.I.B. in writing of that fact, and upon receipt of such notification M.I.B. shall cease to make any further payment under the Insolvency Fund Scheme in respect of final claims as regards relevant liability and/or claims as regards TPPD liability and/or subrogated liability attributable to the relevant Insurer concerned.