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Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
The most common examples of statute liability are in areas where an individual is required by law to effect insurance, e.g. workers' compensation and motor vehicle compulsory third party. Property, hotel and operations managers should become familiar with the various types of contracts involved in commercial and retail activities.
Therefore, the main scope of third party liability insurance is to protect others from the consequences of the policyholder’s wrong-doing. In other words, the third-party liability insurance reimburses the other party’s damages which were caused by a negligent act of the insured. It does not intervene to protect the property and interests ...
As well as neutering their animals, XL bully owners seeking an exemption must also pay an application fee, hold third party public liability insurance for their pets, and ensure the dogs are ...
For the past few years, 3 per cent of customers had bought third-party policies, but that has now risen to 4 per cent. Experts say the move is risky and ‘deeply concerning’ (Getty)
Third party liability may refer to: Vicarious liability, a legal doctrine; Third-party liability in insurance This page was last edited on 7 ...
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