Liability insurance

Liability insurance

Insurance that pays and renders service on behalf of an insured for loss arising out of his responsibility, due to negligence, to others imposed by law or assumed by contract.

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Part of Speech: noun
Synonym(s):
Blossary:
Industry/Domain: Insurance
Category: Life insurance
Company:
Product:
Acronym-Abbreviation:

Collect to Blossary

Other Languages:

Related terms

liability insurance

Convention; Conferences

An insurance policy that protects you in the event that there is bodily injury or property damage to other people. The liability can be because of negligence or a failure to live ...

liability insurance

Financial services; General Finance

Insurance guarding against damage or loss that the policyholder, may cause another person in the form of bodily injury or property damage.

liability insurance

Insurance; Life insurance

Insurance that pays and renders service on behalf of an insured for loss arising out of his responsibility, due to negligence, to others imposed by law or assumed by contract.

liability insurance

Financial services; Funds

Coverage that protects you if you cause damage to someone else's property or person.

liability insurance

Real estate; General

Insurance that covers against potential lawsuit brought against a property owner for alleged negligence resulting in damage to another party.

liability insurance

Real estate; General

Insurance that covers against potential lawsuit brought against a property owner for alleged negligence resulting in damage to another party.

Lloyd's

Insurance; Life insurance

Generally refers to Lloyd's of London, England, an institution within which individual underwriters accept or reject the risks offered to them. The Lloyd's Corp. provides the ...

Lloyds organizations

Insurance; Life insurance

These organizations are voluntary unincorporated associations of individuals. Each individual assumes a specified portion of the liability under each policy issued. The ...

National Association of Insurance Commissioners (NAIC)

Insurance; Life insurance

Association of state insurance commissioners whose purpose is to promote uniformity of insurance regulation, monitor insurance solvency and develop model laws for passage by state ...

dividend

Insurance; Life insurance

The return of part of the policy's premium for a policy issued on a participating basis by either a mutual or stock insurer. A portion of the surplus paid to the stockholders of a ...

earned premium

Insurance; Life insurance

The amount of the premium that as been paid for in advance that has been "earned" by virtue of the fact that time has passed without claim. A three-year policy that has been paid ...