What is a tortfeasor?
A tortfeasor is a person or company that does something wrong, inflicting a loss on a third party. If judged legally liable, a tortfeasor (or defendant) must reimburse the wronged person (plaintiff) for any damages.
What is a tort?
A tort is a wrongful act that hurts another party, who can seek compensation in civil court. There are many different kinds of torts, but they all share one characteristic – they involve harm to a third party, with quantifiable financial losses.
When plaintiffs sue for damages and win, civil court judges can compel tortfeasors to compensate plaintiffs for their losses. These payments, called judgments, can be large and potentially devastating to a small business. However, if you have general liability insurance or a business owner’s policy, your coverage can provide financial assistance to cover judgments and attorney's fees.
What if you get sued for being a tortfeasor?
Seek legal advice right away if you or your business is named in a lawsuit. If you have general liability insurance or a business owner’s policy (BOP), notify your insurance company immediately. It can provide you with an attorney and also with an insurance adjuster, who will manage your case.
Get free quotes and compare policies with Insureon
Insureon helps small business owners compare commercial insurance quotes from leading U.S. carriers with one easy online application. Start an application today to protect your business against legal liabilities.
RETURN TO GLOSSARY