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What Is a Tortfeasor?
A tortfeasor is a person or entity that commits a wrongful act that causes another individual or business to suffer a personal or financial loss. When a tortfeasor is held legally liable, they’ll need to reimburse the impacted party for any damages. If you’re found to be a tortfeasor, seguro para pequeñas empresas policies can help cover costs.
For instance, if someone files a lawsuit against you after they slip, fall and break their ankle in your store, general liability insurance can help cover their medical bills. Without the right business insurance coverage, you’ll have to pay for medical treatment and damages out of pocket. This can have devastating financial impacts. To learn more, obtener una cotización hoy mismo.
Understanding Tortfeasors in Insurance
A tort is a wrongful act that hurts a person or company and causes them to file a lawsuit for injury, damage or financial loss. If your business commits a tort, you’ll want to get legal advice. It’s also important to understand the three main categories of torts, including:
- Strict liability torts which occur when you’re found liable for property damage or bodily injury. For example, if your products cause injury to your customers, you’ll likely be liable for the injured parties’ medical bills.
- Intentional torts, which are wrongful acts committed with intentional planning. Sometimes they can occur due to negligence or recklessness and they typically cause financial loss. Some examples of this include fraud and defamation.
- Negligent torts, which occur when an individual or business fails to take reasonable care in causing damage to another person. For instance, if you fail to put up a wet floor sign and a customer slips and gets injured, they may seek compensation from you. If you’re found to be at fault, you’ll need to pay for their medical care.
If you’re found liable for damage, bodily injury or financial loss, business insurance for small business owners can help. Your business could be vicariously liable if an employee or contractor is found liable. The best way to find insurance that’s right for you is to compare quotes with multiple insurance companies. To get started, obtener una cotización hoy mismo.
What if Your Business Is Sued for Being a Tortfeasor?
If an individual or another business files a lawsuit against you for being a tortfeasor, you should get legal advice as soon as possible. If you have general liability insurance o un Póliza para propietarios de empresas (BOP) it’s also important to update your insurance company right away. These policies can help cover insurance claims that you’re liable for.
Related Small Business Insurance Terms
To learn more insurance terminology, check out our glossary of business insurance terms. This resource includes information on important insurance policies that can help cover you against torts. These coverages can include:
- Data breach insurance
- Errors and omissions insurance
- Management liability insurance
You can also learn more about insurance coverages by getting a quote from us today. We’re an insurance company that has helped small business owners get the coverage they need for over 200 years.