If you own a business, having good business insurance (aka commercial insurance) is critical, even if you never do anything wrong.
Negligence laws can leave business owners with broad responsibility for the actions of others. Even the most careful business owner can face significant financial liability.
Recent Business Insurance Claims
Recently, a sportscaster was awarded $55 million because a stalker surreptitiously videotaped her and posted the video on the internet. According to the New York Times, the stalker rented the room next to her and drilled a hole in the door between the two suites.
What makes this case noteworthy is not that the jury awarded a large sum to the victim for having her privacy violated; it is that nearly half of her award will be paid by the hotel at which she stayed, rather than the person who stalked her.
According to the New York Times, the jury found that the companies which manage the Nashville Marriott were responsible for allowing the stalker to have the room next to the victim. The jury determined that the stalker was responsible for only 51% of the victim’s harm while the hotel was responsible for the remaining 49%.
The hotel will have to pay $27 million to the sportscaster. In all likelihood, the stalker will file for bankruptcy and pay next to nothing.
This case illustrates the importance of business liability insurance, even for the most careful of business owners. If you own a business, the law gives you responsibility for the actions of others, even if they are not your agents or employees. If you need help finding the right business insurance, please contact us.
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.
