What is liability insurance?

Answer

Definitions of LIABILITY INSURANCE on the Web: Insurance for what the policyholder is legally obligated to pay because of bodily injury or property damage caused to another person. www.home-owner-insurance-quote.org/frequently_used_home_insurance_terms.html

A policy that protects owners against any claims of negligence, personal injury or property damage. www.tenantlawcenter.com/terms/l.htm

Liability insurance pays on behalf of the insured for certain types of injury to others. ww3.komotv.com/global/story.asp

Insurance coverage that offers protection against claims alleging that a property owner's negligence or inappropriate action resulted in bodily injury or property damage to another party. www.davismtg.com/davismtg_gloss.aspx

Insurance protecting the insured against financial loss arising out of legal liability imposed upon him/her in connection with bodily injuries (or death) suffered, or alleged to have suffered, by persons of the public, or damage caused to property other than property owned by or in the custody of the insured as a result of the maintenance of the premises, or the business operations of the insured. www.farmers.com/FarmComm/WebSite/html/glossary/glossaryL.jsp

It is a kind of insurance which pays and renders service on behalf of an insured for loss arising out of her responsibility to others imposed by law or assumed by contract. A simple example is: suppose Jones own a Motor Third Party Liability Insurance and he hits another car while driving.Then his insurance company will pay for the losses provided the losses are within the limit. There are several types of liability insurance some of the very common forms of Liability insurance are: General Liability, Employers Liability, Professional Liability, D & O Liability. encyclopedia.laborlawtalk.com/liability_insurance

Covers a person or company against losses, for which they are legally responsible, to another party or parties . www.insurancepoliciesonline.com/resourcecenter/glossary.htm

Insurance which agrees to indemnify the insured for sums he may be required by law to pay to third parties as damages for bodily injury or damage to property. www.insuranceportfolio.com/terms-l.htm

Insurance which serves to protect the insured from the financial consequences of damages claimed by third parties. www.lincolngeneral.com/glossary.htm

Sometimes called PLPD or Section “A” Coverage, this covers you as a vehicle owner and as a driver if you injure someone or damage someone else’s vehicle or property with your car. The minimum requirement in New Brunswick is $200,000, although many New Brunswick consumers choose to carry additional coverage. www.gnb.ca/0062/insurance/glossary-e.asp

Liability coverage pays for expenses from damages or injuries to other people that are caused by the policyholder. www.tcais.org/insurance/glossary.php

Usually a mandatory form of insurance for professionals, covering expenses associated with a lawsuit and being sued by third parties for negligence. It is usually available through association plans and purchasing through an association's carrier is often the most cost effective. www.gillianjohnston.com/glossary.htm

Insurance that protects a company from legal claims arising out of accidents or losses incurred by customers. www.traveltradesmart.com/newbrunswick/glossary.htm

Protects a policyholder when he or she is responsible for personal injury or property damage. www.calcbuilder.com/cgi-bin/calcs/AUT0.cgi/NEACalc

Insurance that covers against potential lawsuit brought against a property owner for alleged negligence resulting in damage to another party. grellingers.com/pages/GlossaryofTerms.aspx

covers an insured for those sums the insured may be legally obligated to pay as a result of the insured’s negligence. www.patrons.com/html/body_glossary.html

(Assurance responsabilité civile) The type of insurance which covers an insured for his legal liability for bodily injuries or damage to the property of others. eg Automobile liability policies cover the insured’s liability arising out of the use and operation of a motor vehicle. Personal liability policies cover a broad range of situations in which the company agrees to assume the legal liability of the insured. www.aon.ca/english/plines_include/glossaryl.htm

insurance that provides protection from claims arising from injuries or damage to other people or property wordnet.princeton.edu/perl/webwn

hope this helped good luck

First answer by ID1147898441. Last edit by ID1147898441. Question popularity: 46 [recommend question]