What is Civil Liability insurance?
Civil liability insurance protects you from damages that third parties may suffer during the exercise of any activity, business or not, that you carry out. We can find activities in which the law requires you to take out Liability insurance, such as motor vehicle circulation, hunting activities or active tourism activities in the Canary Islands.
What does Civil Liability insurance cover?
Liability insurance assumes the economic consequences of a claim by an injured party for damages caused during the exercise of the activity declared in the policy. In addition, civil liability insurance includes other coverage such as defense expenses and legal costs, as well as the constitution of bonds.
Is Civil Liability insurance for companies mandatory?
Legislation requires that certain activities must be insured. For example, if your company is dedicated to active tourism in the Canary Islands, current legislation requires you to take out Civil Liability insurance. For other activities in which there is no obligation to insure civil liability, you must take into account the risks of your business activity. In addition, it is frequent that to access the bidding of contracts with the public administration, the validity of a Civil Responsibility insurance is required.
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