What is Business Liability insurance?
Corporate liability covers the company from claims for damages from third parties, whether it is an employee of the company itself, a customer, a supplier or any other party considered a third party, natural or legal person.
Objective of the insurance
The main objective of civil liability insurance is to protect the company’s assets in the event of a claim from a third party due to the imputation of liability. Civil liability insurance covers the economic consequences that may derive from an allegation of civil liability as a direct consequence of the performance of the activities or the nature of the risk itself. It covers damages caused and the defence and bonds of the insured.
The insurance company is obliged to compensate the injured third party for the claimed facts that are envisaged in the contract and up to the limits established by law and the policy.
How do we work civil liability insurances?
Before taking out the policy, at O. Brokers we analyse and study each company and its peculiarities features in order to fully define its activity, determine the appropriate geographical and temporal scope and to include in the contract the specific coverage necessary to cover all possible claims that the company may receive. Once the preliminary analysis has been carried out, we also help the client to set the maximum compensation limit, in addition to advising them on the appropriate sub-limits per victim and coverage in the policy according to their activity and sector.
We proactively work very closely with the clients to ensure that the civil liability policy is always up to date for any new activities that the company may undertake, new markets and the latest updated billing.
We advise clients to establish the necessary procedures and protocols to reduce the risk of a potential claim.
- Operating civil liability
- Real estate civil liability
- Rental civil liability
- Employer's liability and cross liability
- Subsidiary liability of contractors and subcontractors
- Product liability and post-work liability
- Legal defence and bonds
- Joint and several liability
- Product recall liability
- Pure property
- Liability for goods under control or custody
- For participation in joint ventures
- Civil liability for demolition work
- Hot work or welding liability
- Civil liability for assembly and disassembly costs
- Civil liability for goods being worked on
- Civil liability Damage to the property being handled
- Civil liability of vehicles at rest
What can happen to trigger liability insurance?
- A company that designs, manufactures and installs lighting fixtures receives a complaint because one of its products has fallen on the marble of a customer’s kitchen.
- The illuminated sign at the entrance to a factory comes off and causes damage to a car that was parked inside the premises of a private individual.
- A worker in an industry, carrying out cleaning tasks, receives an accidental blow to his jaw from an iron bar, causing damage to his movement and speech impairment.
