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Legal risk is the risk of loss to an institution which is primarily caused by: (a) a defective transaction; or (b) a claim (including a defense to a claim or a counterclaim) being made or some other event occurring which results in a liability for the institution or other loss (for example, as a result of the termination of a contract) or;
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.
A limited liability form separates the owner(s) from the business. The limited liability form essentially acts as a corporate veil that protects owners from liabilities of the business. [2] This means that when a business is found liable in a case, the owners are not themselves liable; rather, the business is.
What full-coverage car insurance includes. A full-coverage auto insurance policy combines three key protections — liability, comprehensive and collision coverage — into one complete package.
Full coverage is a combination of liability coverage (which pays for damages to third parties) and collision and comprehensive coverage (which add financial protection for damage to your vehicle).
Business firms use a financial analysis technique called asset vs. liability management (ALM) to mitigate risk due to a mismatch in their assets and liabilities. A mismatch occurs when assets and ...
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