Lawsuit Loans – What Does the Term “Commercial Liability Claim” Mean?
Individuals seek to obtain lawsuit loans for a variety of reasons on which their claims may be based. Most of these claims involved general liability claims, viz., claims amongst individuals involving no overt commercial enterprise, the furtherance of which was involved in the claimant’s harm.
On the other hand, commercial litigation involves harm that arises in furtherance of a commercial enterprise’s, e.g., Business X, interests. A collision occurring between a driver for a medical clinic, while in the course of driving for that medical clinic, and another driver would be an example of a commercial liability claim.
The individual with whom the Dominoe’s courier collides may, if appropriate, pursue a claim against both Dominoe’s and the courier. The claim against Dominoe’s would be a commercial litigation claim by a third-party. The claim against the Dominoe’s courier would be a general liability claim by a third-party.
The term third-party simply means that the insurance carrier represents the party against whom the claim is filed, not the individual filing the claim.
Attorneys and lawsuit loan lenders quickly turn their attention to a claimant filing a commercial litigation claim. To what is the attention to be attributed? Policy limits for a general liability claim often range from $30,000.00 – $50,000.00 (although many are much lower), but policy limits for commercial liability claims are often hundreds of thousands, if not millions, of dollars.
Pressures placed on drivers for speedy deliveries, etc. account for the disparity in policy limits. What is not in dispute is the fact that commercial liability claims often obtain much higher awards than do general liability claims. There are also significant differences in the availability of care and attention provided to commercial litigation claimants, when compared to general litigation claimants.
Prepare yourself by retaining a good attorney for such a claim. In many instances, insurance carriers retain law firms, paying millions of dollars annually, to vigorously oppose paying such claims.
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