The English term "liability" is very broad and covers a number of narrower terms and concepts under German law such as "Haftung", "Verbindlichkeit" , "Belastung", "Verantwortung" and "Schuld". The German term "Haftpflict" focuses on the tortfeasor's compensatory duty in the event he or she is liable for the injury or damage.
There are multiple definitions - click on the translation that matches your context.
(usually plural: liabilities) business debts
Pension schemes face deficits when liabilities exceed the value of the funds.
legal responsibility for acts or omissions (=failures to act, especially when you should have)
The Ministry of Defence pays compensation wherever there is a legal liability to do so.