Learn how Civil Liability Insurances works in Chile

The civil liability insurance is responsible for covering the damages that the insured causes to third parties, granting two types of coverage

a. Compensation for which the insured is civilly liable in the event of:

  • Bodily injury or death caused to third parties
  • Material damage to property belonging to third parties.

b. Defense expenses: which include fees, lawyers, and expenses even for unfounded claims against the insured.

How does the policy operate?

Civil Liability Insurance operates from the moment a third party makes a lawsuit against an insured person or company, demanding compensation for damage.

After the insured informs the insurer about the event, it will assign the case to an insurance adjuster, who will try to reach an out-of-court agreement with the third party in order to resolve the claim quickly and more economically. In the event that the agreement does not produce results, the regular conduct of a legal claim with all its processes will take place.

The insurance company will bear the aforementioned defense expenses and will compensate the third party in the event that the claim has been won in favor of the affected third party. In the event that the claim is resolved in favor of the insured, the Civil Liability policy will cover defense expenses in the same way.

Find out which insurance LISA operates and see what we have been doing at LISA, request your DEMO.

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