Liability Insurance: Definitions and Terms

Definition of Liability Insurance: The simplest definition of ‘liability insurance’ is the Insurance coverage to protect against claims alleging that one’s negligence or inappropriate action resulted in bodily injury or property damage. Liability coverage pays when the insured is legally liable for the negligent act. Different people/ organizations ┬áneed different types/ amounts of liability coverage. … Read moreLiability Insurance: Definitions and Terms