What are examples of liability insurance?

Liability insurance spain

Have you ever wondered what civil liability is when you want to take out insurance? You may have a rough idea of what it entails, but you may not know everything that this coverage covers.

Obviously, the sums that you may have to pay for civil liability can be very high. That is why this coverage is included in insurance policies. However, depending on the policy in question, its characteristics will be different.

What are the liability insurances?

Employer’s Liability. Real Estate Liability. Premises Liability. Post-Work Civil Liability.

How many types of CR are there?

There are more than eighty types of liability insurance in Mexico, in this entry we describe the most general insurance, oriented to companies.

What is covered by the CR policy?

This type of policy covers the claims that the insured has to face for personal and material damages caused to third parties. In addition, it usually covers the insured’s defense expenses and the constitution of civil and criminal bonds derived from the claims.

Types of liability insurance

In many occasions, civil liability is included as a guarantee within “multi-risk insurance policies” as it usually occurs in home, automobile, community, or even in travel assistance policies.

Article 1903: The obligation imposed by the previous article is enforceable, not only for the own acts or omissions, but also for those of the persons for whom it must respond. Link to source.

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This coverage is used when the insured is presented with claims arising from wrongful professional acts in the exercise of his professional activity, such as that of a lawyer, architect, surgeon, etc.

The particular conditions identify both the insurer and the insured, the coverages or guarantees specifically contracted by the insured are identified, as well as the insured limits, the premium and the maturity.

The best option will always be to have an insurance brokerage with a specialized and experienced staff in the field of civil liability that can provide us with the appropriate information, and above all, a correct and quality advice.

What is contractual and tort liability?

Contractual liability arises exclusively from an act of the guilty party, who decided to breach the contract, while tort liability may arise from an act of a third party, or from an external act such as an act of God or force majeure caused by nature.

What is individual civil liability?

Liability is defined as the obligation of any person to pay for damages caused to the person or property of another. Liability is the obligation to pay for damages caused to a person or his estate.

Professional liability examples

We offer you a wide coverage for these risks, through our Colones Civil Liability Insurance, Dollars Civil Liability Insurance, Colones Professional Liability Insurance and Dollars Professional Liability Insurance.

Professional Liability Insurance (protects civil liability for the exercise of a specific profession. For example, medical liability, art of construction, among others) Colones and Professional Liability Dollars.

In the case of a Legal Entity (subject of rights and obligations that exists, but not as an individual, but as an institution and that is created by one or more natural persons to fulfill a social objective with or without profit motive) you must submit a company profile, a list of the professionals included and the company’s relationship with the professional.

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For this coverage to work, the claim must occur after the products have been delivered to third parties, so that the coverage begins once they are in the hands of the consumer and are used by them, regardless of the participation of the insured or their workers, representatives or distributors.

Examples of liability insurance

Employees often have to assume major liabilities arising from the performance of their jobs. Therefore, within the company there are many types of CR, depending on the type of professional you are.

Liability insurance is designed for professionals or companies that employ lawyers, doctors, dentists, private detectives, judges, property managers, tax advisors, etc. These workers are exposed to committing errors, omissions or suffering dishonest acts on the part of their employees, which may lead to claims or lawsuits by third parties. For this reason, these policies usually cover, in addition to professional liability, intellectual property, employee infidelity, loss of documents, legal expenses or the payment of any bonds that may be judicially imposed.

This type of Directors’ and Officers’ Liability (D&O) policy protects them against possible claims from third parties for improper acts in the exercise of their duties. Among other things, this type of policy usually covers external consultancy expenses, legal defense, payment of indemnities, constitution of finances, etc.

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