No matter what field you operate in, no matter how careful and organized you are, there is a risk of causing property damage or personal injury, leading to costly damages and legal action.
The most important benefit of a liability insurance is that it pays compensation to individuals or companies for such situations. Liability insurance can be mandatory, imposed by law, or optional, chosen voluntarily, depending on specific needs and risks.
Mandatory civil liability insurances are:
- Car liability insurance (RCA). Vehicle owners, both individuals and legal entities, are required by law to take out an RCA policy. The policy covers damages to the injured party in a car accident for which you are responsible.
- Professional civil liability insurance. It is imposed by law on certain professions such as doctors or pharmacists, who need malpractice insurance.
- Directors and Officers Liability Insurance (D&O). It is mandatory in accordance with Law no. 31/1990 on commercial companies, for administrators and executive directors of joint-stock companies.
The optional liability insurances for legal entities are: Legal liability insurance, Non-statutory Professional Liability Insurance, Directors and Administrators Liability Insurance (D&O) for non-statutory categories. For individuals, the most important are: Tenant’s Liability Insurance against the owner and Property Owner’s Liability Insurance against his tenants.
Learn more about the type of liability insurance right for your business
Challenges and difficult moments are part of every entrepreneur’s journey – you can’t avoid them or predict them, but you can insure them with the right policy. We hope this material has helped you discover it and better understand what it can do for you.
Take the step towards an insured future and ask for an insurance quote.
For additional information, you can consult the virtual assistant Amelie (24/7) on groupama.ro, you can write to relatii.clienti@groupama.ro, you can call AloGroupama 0374.110.110 (Monday – Friday, between 8:00 – 18:00) or contact the Groupama network of sellers and partners.