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Liability insurance |
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Liability insuranceInsurance against legal liability to pay compensation and court costs where the insured has been found negligent in respect of injuries sustained by another person or damage to his/her property.Liability insuranceInsurance guarding against damage or loss that the policyholder, may cause another person in the form of bodily injury or property damage.Liability insurance Similar MatchesUnlimited liabilityUnlimited liabilityFull liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability. Joint and several liabilityJoint and several liabilityAn undertaking by a group of two or more people to be responsible, either individually or jointly, for any liability which may exist after any member or members have failed to meet their obligations. For example if a group of four people enter into a joint and several liability on a bank loan, then in the event of two of the members reneging on their obligations the remaining two members become fully responsible for the repayment of the loan. Funded LiabilityFunded LiabilityA source of funds that a firm must take overt action to arrange and that carries an interest cost. Limited liability instrumentLimited liability instrumentA security, such as a call option, in which the owner can lose only the initial investment. Contingent pension liabilityContingent pension liabilityUnder ERISA, a firm is liable to its pension plan participants for up to 39% of the net worth of the firm. Further SuggestionsUmbrella personal liability policylimited liability Lender liability lawsuits Liability joint liability umbrella personal liability insurance Tax liability Contractual liability Joint liability Limited liability Noncurrent liability |
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