liability insurance

liability insurance
Any insurance against a potential loss due to the insureds liability for injury or damage to others.

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  • Liability insurance — is a part of the general insurance system of risk financing. Originally, individuals or companies that faced a common peril , formed a group and created a self help fund out of which to pay compensation should any member incur loss. The modern… …   Wikipedia

  • liability insurance — insurance covering the insured against losses arising from injury or damage to another person or property. * * * Insurance against claims of loss or damage for which a policyholder might have to compensate another party. The policy covers losses… …   Universalium

  • liability insurance — Insurance that protects a party from various types of claims. Typically liability insurance protects the insured from losses resulting from property damage claims or from bodily injury claims. Construction lenders usually require contractors to… …   Financial and business terms

  • liability insurance — n: insurance against loss resulting from civil liability for injury or damage to the persons or property of others see also comprehensive general liability insurance Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Liability Insurance — Any type of insurance policy that protects an individual or business from the risk that they may be sued and held legally liable for something such as malpractice, injury or negligence. Liability insurance policies cover both legal costs and any… …   Investment dictionary

  • liability insurance — noun insurance that provides protection from claims arising from injuries or damage to other people or property • Hypernyms: ↑insurance * * * noun : insurance against loss resulting from liability for injury or damage to the persons or property… …   Useful english dictionary

  • liability insurance — A form of insurance policy that promises to pay any compensation and court costs the policyholder becomes legally liable to pay because of claims for injury to other people or damage to their property as a result of the policyholder s negligence …   Big dictionary of business and management

  • liability insurance coverage — Insurance that provides compensation to third parties who are injured or whose property is damaged due to the fault of the insurance holder. You may have liability insurance for your car or your home, or to cover actions you take in the course of …   Law dictionary

  • liability insurance — insurance against damage which the insured person causes to others, compensation for injury caused to pedestrians or passengers during an auto accident …   English contemporary dictionary

  • Liability insurance crisis — The liability insurance crisis in the United States of America refers to a volatile economic period during the mid 1980s. During these years, until about 1990, rising insurance premiums and an unavailability of coverage for several types of… …   Wikipedia

  • liability insurance — A policy or contract of insurance whereby the insurer agrees to protect the insured against liability arising from an act or omission of the insured which causes injury to the person or the property of a third person, the liability of the insurer …   Ballentine's law dictionary

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