CIVIL LIABILITY

INSURANCE

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WHY IS CIVIL LIABILITY

INSURANCE NECESSARY?

In accordance with the Civil Law, any person who, through their actions or omission, causes damage to the health or property of a third party is obliged to compensate for such damage. The same applies to damage caused to the environment. These risks can be insured, thereby avoiding unforeseen expenses in the event that a claim for damages is made.

The most common civil liability cases include:

  • A child scratches a neighbour’s expensive car (private liability insurance).

  • Children forget to turn off a tap and flood a neighbour’s apartment (private liability insurance).

  • An icicle falls from a building roof and damages a car parked nearby (property manager’s liability insurance).

  • A driver causes a collision with the vehicle in front (MTPL).

  • While painting a building facade, paint droplets damage a car parked nearby (contractor’s liability insurance).

  • During construction, an inaccuracy is discovered in the design drawings (designer’s professional liability insurance).

  • Due to the fault of a tenant, neighbouring properties are flooded (tenant’s liability insurance).

Civil liability insurance

for private individuals

A private individual may insure their liability arising from, but not limited to, the following situations:

  • As a tenant or landlord.

  • As a participant in amateur sports or cycling activities.

  • As a parent of a minor child for damage caused by the child.

  • As a person carrying out minor repair works (not requiring a building permit), for example accidentally drilling through a wall and damaging a neighbour’s television.

  • As a pet owner for damage caused by the animal.

Civil liability insurance

for legal entities

A legal entity may insure:

  • Damage to or loss of third-party property (including leased property).

  • Injury to or harm to the life or health of third parties.

  • Environmental damage.

  • Defence and other legal costs.

  • Damage caused to an employee due to the employer’s fault.

  • Consequential financial losses and loss of profit.

  • Third-party legal costs awarded by a court.

  • Compensation related to attendance at civil court hearings.

  • Liability arising from products manufactured or services provided.

WHAT IS NOT COVERED BY CIVIL LIABILITY INSURANCE?

  • Fines and penalties.

  • Losses already covered by compulsory insurance as required by law.

  • Financial losses that do not arise from damage to a third party’s health or property.

  • Loss or damage arising from the presence or use of asbestos.

  • Losses resulting from malicious intent or deliberate and intentional actions.

  • Losses arising from criminal acts.

COMPULSORY

CIVIL LIABILITY INSURANCE

The scope of compulsory civil liability insurance in Latvia is expanding over time. Currently, the following types of insurance are either established in legislation or under development:

  • MTPL insurance.

  • Professional liability insurance for advocates (lawyers).

  • Professional liability insurance for insurance brokers.

  • Liability insurance for employees of pharmacies and pharmacy branches involved in pharmaceutical care.

  • Liability insurance for security service providers.

  • Compulsory insurance related to civil aviation activities.

  • Liability insurance for accredited conformity assessment bodies.

  • Liability insurance for owners of unmanned aerial vehicles (drones).

  • Liability insurance for owners of hazardous cargo.

  • Liability insurance for construction contractors.

  • Liability insurance for certified construction specialists.

  • Professional civil liability insurance for outsourced accounting service providers.

  • Liability insurance for operators of hydrotechnical structures of hydroelectric power plants.

  • Liability insurance for operators of ionising radiation sources.

  • Professional civil liability insurance for service providers of cash register systems and inspection bodies.

  • Liability insurance for providers of shared (open or closed) customer due diligence tools.

  • Liability insurance for companies working with explosives and blasting equipment.

  • Liability insurance for companies providing crew recruitment services for ships.

  • Liability insurance for competent specialists and institutions in occupational safety.

  • Professional civil liability insurance for credit intermediaries and their representatives.

  • Professional liability insurance for ship agents.

  • Liability insurance for shipowners (Latvian and foreign) whose vessels operate in Latvia and can transport more than 2,000 tonnes of oil.

  • General civil liability insurance for pawnshops.

  • Liability insurance for insolvency administrators (liquidators).

  • Liability insurance for owners and holders of medical devices.

  • Professional liability insurance for surveyors and geodesists.

  • Professional civil liability insurance for real estate intermediaries.

  • Liability insurance for patent attorneys.

  • Liability insurance for public event organisers.

  • Liability insurance for certified forest inventory specialists.

  • Liability insurance for trusted certification service providers.

  • Liability insurance for sponsors and investigators of clinical trials of medicinal and pharmaceutical products.

  • Liability insurance for fishing vessel owners.

  • Liability insurance for sworn notaries.

  • Liability insurance for sworn auditors.

  • Liability insurance for sworn bailiffs.

In recent years, with the growth of the economy and overall welfare, the attitude of individuals and businesses towards insurance, as well as their ability to purchase it, has also evolved. Various global and regional developments are rapidly changing the landscape, such as pandemics and remote work, military activities, and resulting trade restrictions.

In the era of advanced technologies and rapid information exchange, new forms of liability continue to emerge. Civil liability insurance provides protection in cases where damage is caused to a third party due to negligence. Liability insurance is often purchased also to mitigate legal costs, as defence expenses may be substantial and prolonged, even if the final court decision results in acquittal.

WHY INSURE LIABILITY

WITH US?

An insurance broker is one of the official participants in the insurance market, whose activities are regulated by the Financial and Capital Market Commission, as well as governed by the Law on Insurance and Reinsurance Distribution, the Insurance and Reinsurance Law, and other binding regulatory enactments in force in the Republic of Latvia.

Unlike other participants in the insurance market, such as insurance companies, insurance agents, and others, an insurance broker is the only market participant who, in the provision of services, represents solely the interests of the client.

On behalf of and in the interests of the client, the insurance broker surveys the offers of all insurance companies that provide the required risk coverage, analyses the received offers, and provides the client with all necessary information to support an informed and beneficial decision.

LĪGA DIMANTE

Colement FKB Latvia

pārdošanas direktore

PRINCIPLES OF

INSURANCE BROKER ACTIVITY

By cooperating with an insurance brokerage company, you gain several advantages compared to working directly with insurance company distribution channels:

  • IThe cost of insurance broker services is borne by insurance companies. The broker receives remuneration from the insurers with whom the client concludes insurance contracts.

  • You save time and effort. The insurance broker assists in evaluating insurance offers and handling all insurance-related matters.

  • You may reduce costs and administrative burden. The insurance broker conducts a market comparison of insurance offers, encouraging competition among insurers.

  • In the event of an insured occurrence, the insurance broker acts as your primary point of support in arranging and managing the claims process.

An insurance broker is always your independent insurance adviser.

SIA Colemont FKB Latvia

Tālr.: +371 27000390

e-pasts: polise@colemont.lv

Reģ nr.: 40003484130

Āraišu iela 34, Rīga, LV-1039

Banka: AS Swedbank

Bankas kods: HABALV22

Darījumu konts: LV90HABA0001408055066

Saimnieciskais konts: LV92HABA0551005786836