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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 Insurance Compensation Consortium (Spanish: Consorcio de Compensación de Seguros, CCS) is a compulsory Government catastrophic risk insurance in Spain.It is an insurance tax charged on prescribed classes of insurance issued by private insurers, providing cover against a series of extraordinary perils and "political risks”
Within Canada, all auto rentals are required by law to include a minimum of $200,000 in third-party liability insurance, regardless of whether the renter has their own auto insurance or not. Most rental agencies thus do not provide a third-party liability insurance option, and simply factor in the premium as part of fixed cost of rental. [7]
Boat insurance: It typically costs around 1 to 5 percent of the boat’s value. So, using the example above, the average annual cost of insurance for a $20,000 boat would be between $200 and ...
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. [1] Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure.
Boat insurance rates typically equal 1.5 percent of the boat’s insured value, though this figure can fluctuate greatly depending on the company and your location. Other expenses to keep in mind ...
A co-insurance, which typically governs non-proportional treaty reinsurance, is an excess expressed as a proportion of a claim in percentage terms and applied to the entirety of a claim. Co-insurance is a penalty imposed on the insured by the insurance carrier for under reporting/declaring/insuring the value of tangible property or business income.
Automobile primary liability (also known as third party liability) insurance is generally a required purchased in the country where the expatriate is located. Local governments often require this in order to register a vehicle. Third party liability insurance rates may vary drastically.