Why It’s Important to Have Personal Injury Knowledge as a Business Owner
Virtually all businesses are susceptible to liability when it comes to personal injury claims, as a business lawyer Danbury CT trusts can attest. Situations that range from customer to employee injuries are just a few of the situations that a company could be liable to pay damages for. It is important to have personal injury insurance even in service related fields that don’t deal with the public.
Duty of Care
When employees and customers are on company property, providing safety is the responsibility of all business owners by law. Ensuring personal safety for patrons is a basic responsibility of all business owners who open their doors to the public. However, accidents happen. When there is an accident, having the appropriate amount of insurance is the most effective way of providing business owners with protection from monetary harm. Ways a business could breach their duty of care includes:
-Surfaces that can become slippery or icy, such as parking lots or sidewalks
-Broken stairs or other structures that could harbor potential hazards.
-Failure to maintain premises to local codes.
-Collisions with machinery.
Commercial Auto Insurance
If an employee is involved in a car accident while working, they are covered by workman’s compensation insurance. However, the worker can often file a personal injury claim against their employers’ auto insurance policy. Accidents happen often and can be very costly, as a business owner, it is wise to carry as much voluntary insurance in combination with any insurance that is mandated.
Comparative negligence can result in a reduction of a business owners’ liability in a personal injury claim in some states. When this applies the plaintiff is found accountable for a percentage of the accident. If the plaintiff is found to be partially responsible for the injury, the value of their personal injury claim could be reduced.
In some situations, a personal injury claim may be filed where there is limited evidence to prove that another was responsible for the injury. This is more common for a larger business than for a smaller company. In most situations, a larger entity will opt to pay the claim rather than go through legal proceedings. When damages are paid out, a business will be at risk of a rise in their insurance premiums which may impact their profitability.
Where potential personal injury claims are concerned, insurance needs should be adjusted by businesses on a yearly basis. The owner’s financial future could be at stake if they are found liable for a personal injury and do not have the proper coverage. When a personal injury claim occurs, it is important to contact an experienced personal injury attorney.
Thanks to our friends and contributors from Sweeney Legal for their insight into business law.