What is the Definition of Liability Insurance?

What is the Definition of Liability Insurance?

Insurance for what the policy holder is legally obligated to pay because of bodily injury or property damage caused to another person.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Liability Insurance?

What is the Definition of Liability Insurance?

You can find random definition and meaning of insurance terms below:


Meaning of Economic Loss in Insurance Terms

Total financial loss resulting from the death or disability of a wage earner, or from the destruction of property. Includes the loss of earnings, medical expenses, funeral expenses, the cost of restoring or replacing property and legal expenses. It does not include noneconomic losses, such as pain caused by an injury.


Meaning of Electronic Commerce/ E-Commerce in Insurance Terms

The sale of products such as insurance over the Internet.


Meaning of Elimination Period in Insurance Terms

A kind of deductible or waiting period usually found in disability policies. It is counted in days from the beginning of the illness or injury.


Thank you for visiting our website and read this FAQ article about "What is the Definition of Liability Insurance?". We hope you get what you searching for.

definitionly.com is a website that contains information about the definition or meaning of a word. You can search for the terms you are looking for in the search field above.

Related Posts

Subscribe Our Newsletter