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Business Liability

Corporate liability means the company’s obligation to compensate for damages caused to third parties.

The causes are related to:

The company’s activities
Employee claims for workplace accidents
Products and completed operations
Actions of executives and directors

Within this area of corporate liability insurance, we offer:

Cybersecurity Insurance (link to the cyber page)
Directors & Officers Liability Insurance (D&O)
Environmental Liability Insurance
Professional Liability Insurance

The Directors & Officers Liability Insurance covers claims: for negligent acts committed by the company’s senior executives.

Company directors and independent board members have this solution to protect their personal assets in the event of a claim from shareholders, creditors, clients, suppliers, etc., for financial damages caused by mismanagement or poor administration.

The main coverages that may be included in an insurance policy are:

Criminal liability / offenses against Public Treasury, Social Security, public health, money laundering, etc.
Criminal liability of the executive / employment practices such as harassment, defamation, etc.
Liability for tax or fiscal violations / corporate tax, VAT, etc.
Commercial liability of the executive
Administrative liability / oversight of business activities

Legal Defense (covers legal costs and fees for the defense of the company’s management)
Reputation (in some companies, expenses for communication to restore reputation are covered)

It should be noted that liability does not end when the position is no longer held.

Professional Liability.

It is always required when the professional practice demands a professional license to operate — for example, lawyers, doctors, engineers — or when fees are charged (advertisers, photographers, designers, marketing professionals, etc.).

The typical coverages usually include:

Errors, Omissions, and Negligence Coverage

Coverage for legal defense and attorney fees.

Additional coverages based on the profession's specifics

Environmental Liability.

It is an insurance policy required by Spanish regulations (Law 26/2007 on Environmental Liability). Every business engaged in activities that may harm the environment, whether through industrial accidents or waste discharges, must purchase this insurance. In the event of causing damage, the business must be prepared to repair it and restore the environment to its condition prior to the damage. Since the cost of doing so is usually significant, it is best for the insurer to cover it.

The mandatory coverages are:

Liability for environmental damages

Damage to species, waters, seas, or estuaries and their remediation

Compensation for soil cleanup and restoration costs

We advise you before purchasing regarding the coverages and their conditions, reviewing the fine print, the limits, and the sub-limits of the policy. We assess the factors that affect the insurance price, such as the company’s activity, turnover, and selected coverages.