What is the Definition of Liquor Liability?

What is the Definition of Liquor Liability?

Coverage for bodily injury or property damage caused by an intoxicated person who was served liquor by the policyholder.

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 Liquor Liability?

What is the Definition of Liquor Liability?

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

Meaning of Decreasing Term Life Insurance in Insurance Terms

Term life insurance that provides a death benefit that decreases in amount over the policy term. Contrast with Increasing term life insurance.

Meaning of Deductible in Insurance Terms

The amount of loss paid by the policyholder. Either a specified dollar amount, a percentage of the claim amount, or a specified amount of time that must elapse before benefits are paid. The bigger the deductible, the lower the premium charged for the same coverage.

Meaning of Deferred Annuity in Insurance Terms

An annuity contract, also referred to as an investment annuity, that is purchased either with a single tax-deferred premium or with periodic tax-deferred premiums over time. Payments begin at a predetermined point in time, such as retirement. Money contributed to such an annuity is intended primarily to grow tax-deferred for future use.

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