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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 MatchesLimited liability instrumentLimited liability instrumentA security, such as a call option, in which the owner can lose only the initial investment. Limited liabilityLimited liabilityThe principle that the liability of shareholders for debts of a corporation or limited company is limited to the nominal value of their shares. In other words, their personal assets are not at risk if the company becomes insolvent and is liquidated. Umbrella personal liability policyUmbrella personal liability policyA liability insurance policy that provides protection against damages not covered by standard liability policies, such as large jury awards in lawsuits. Umbrella personal liability insuranceUmbrella personal liability insuranceIn the US, liability insurance giving excess cover over and above that cover provided by other policies. For example if general policies give total liability insurance cover of $400,000, an umbrella policy could typically provide cover of $1 million. If a claim of $700,000 were made the umbrella policy would pay out only after the $400,000 has been first exhausted. Joint liabilityJoint liabilityThe legal liability of two or more people for claims against or debts incurred by them jointly. If three people have joint liability and are indebted to another party, they may only be sued as a group and not individually. Further SuggestionsJoint liabilityFunded Liability Noncurrent liability joint and several liability Limited liability Tax liability Contractual liability Lender liability lawsuits Contingent pension liability Unlimited liability Liability |
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