Know what a Civil Liability Insurance involves

May 27 , 2021 // Specialty

Published in Madrid Diario

In most cases it is possible to avoid accidents when certain preventive measures are applied. However, there are situations that are beyond our control and that may incur damage to third parties. When this happens, it is advantageous to have a Civil Liability Insurance policy. What is and where to find the most suitable insurance for your business? How is Civil Liability Insurance defined? The Civil Code of Spain establishes that in the face of an action or omission that causes damage to third parties, there must be a compensation response. To comply with this obligation, Civil Liability Insurance is a policy that covers these damages, granting due compensation to those affected. Entrepreneurs and freelancers benefit from acquiring one of these policies but due to the many insurers that offer them, finding an option that is perfectly adapted to the type of work activity becomes a difficult and laborious task. For this reason, turning to a Liability Insurance Comparator is often the most recommended option to find the one that best meets the needs of the business. Civil Liability is a matter of serious consideration, which applies not only to entrepreneurs. For example, parents have a legal responsibility towards their children and must respond to the damages of those who are victims. 4 fundamental requirements must coexist for a civil liability to exist: A person responsible, whether for an action or omission, even if it was involuntary. That an act outside the law occurs and that causes some kind of harm to others. And that it is verifiable that a consequence was produced directly due to the act. If these four aspects are combined in the same situation, there is a civil liability that would merit compensation.

 

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