Types of Civil Liability insurance

The concept of Civil Liability is universal, since it affects both individuals, such as companies, and any type of entity (whether private or public); Therefore, if they cause damage, they could be forced to pay compensation to the person / persons affected. For this reason, the need arises to have a CR policy. There are different types of Civil Liability insurance that covers the assets of the Insured against the obligation to compensate an injured third party (as established in the Civil Code – Article 1,902 and following).

The hiring of any of Markel’s insurance it is synonymous with tranquility and protection. Really, you never know what we may be exposed to because, from a child mischief, to negligence that may occur in the workplace, they could have serious consequences for the person responsible for that damage.

What types of CR insurance are there?

The Civil Liability (RC) It is a very broad term, but in the insured sector it differs in several insurance modalities, and some are mandatory. The contracting of this policy safeguards the assets of the Insured for damages that may have been caused to other persons (natural or legal).

In the Civil liability three elements must be given: a harmful action (or omission), the existence of damage (personnel or material), and the causal relationship between the damage and the action / omission. Ultimately, a person who causes personal or material damage may become responsible for said damage and the economic consequences derived from it; and therefore must compensate the injured person or persons.

Professional Civil Liability:

The purpose of contracting this insurance is to protect the assets of a professional (be it a self-employed person or a company), for damages caused to third parties in the performance of a professional activity. This policy is recommended, among others, for advisory services, managers, consultants, in short, any professional service.

Each self-employed person or SME needs a different policy depending on its characteristics, since the coverage and possible claims are not the same.

General Civil Liability:

This type of insurance is recommended for people or companies that carry out industrial or commercial activities and affects multiple economic sectors; but it is also ideal for other types of events, such as recreational activities (shows, hospitality, etc.), sports (sports clubs) or altruistic (NGO), since in the development of these activities damage to third parties can also occur that give rise to the obligation to compensate.

Medical-health Civil Liability:

Medical-health civil liability arises when a professional or a center that cares for a patient causes him damage as a result of his negligent action. It does not matter if the professional has a labor or commercial contract with the center, what is understood is that the professional has committed a harmful action on behalf of the center, for which it must respond.

There are more types of Civil Liability insurance such as the CR Insurance for Administrators and High Charges (D&O) or the Environmental Liability Insurance that Markel Spain makes available to you.

Any insured person always has the right to defend himself against an accusation of liability. The insurer will look after the interest of its client. The economic consequences may be greater or lesser depending on the policy contracted and its coverage.

In short, when it comes to take out Civil Liability insurance the best thing is to be correctly advised and choose the modality that suits each need. On the other hand, you have to know all the details and coverage of the policy or the possibility of extending it.