Search results
Results from the WOW.Com Content Network
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.
General liability: This type of insurance covers lawsuits involving bodily injury or property damage. Professional liability: This insurance is sometimes called "errors and omissions coverage."
Whether or not general liability insurance covers construction defects or "faulty workmanship" is a matter of some debate, as some insurers have viewed poor workmanship as a risk that is covered by a surety bond rather than an insurance policy given that a construction professional may have some influence (through attention to detail, skill, and effort) over whether such a defect occurs.
The Hartford estimated that general liability costs $1,057 a year ($88 a month). That said, your small business insurance cost depends on what your business does, where it operates and the insurer ...
^α JEL codes A through Z denote primary categories (e.g. D Microeconomics). Secondary categories are specified by an additional Arabic numeral (e.g. D3 Distribution), tertiary categories by a following second Arabic numeral (e.g. D30 General). Articles in economics publications use JEL codes in this manner: JEL: B12.
Excess insurance is similar to umbrella insurance in that it pays after an underlying primary policy is exhausted. The critical difference is that excess policies are normally "follow form" policies that conform exactly to the coverage of the underlying policy, except that they add on their own excess limit which is then stacked on top of the primary policy's limit.
This is an accepted version of this page This is the latest accepted revision, reviewed on 28 December 2024. Equitable transfer of the risk of a loss, from one entity to another in exchange for payment "Insure" redirects here. Not to be confused with Ensure. For other uses, see Insurance (disambiguation). An advertisement for a fire insurance company Norwich Union, showing the amount of assets ...
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Help; Learn to edit; Community portal; Recent changes; Upload file