Learn about Bank Burglary and Robbery Insurance, a specialized type of liability insurance designed to cover banks against theft, unauthorized taking of money or securities, and damages from burglary or robbery.
Learn about Dram Shop Liability Insurance, which protects businesses that serve alcohol from being liable for accidents caused by intoxicated customers. Understand its importance in mitigating risks and ensuring legal compliance.
Learn about Farmer’s comprehensive personal liability insurance, which offers similar coverage to comprehensive personal liability but is specifically tailored for farm-related perils.
Learn what homeowners insurance (property insurance) covers and how it protects homeowners and renters from potential perils and liabilities.
Understanding agency by ratification in general insurance, and how an insurance company becomes liable for an agent's unauthorized actions.
Discover the legal concept of contributory negligence and how it impacts the accountability of insured individuals in insurance claims and injury cases.
Understand the concept of Expense Reserve in general insurance terms, which refers to the liability to the insurer for expenses incurred but not yet paid. Learn its significance in financial statements.
Understand the General Aggregate Limit in commercial general liability insurance, covering personal injury, property damage, and bodily injury claims.
Discover the concept of negligence within general insurance terms. Learn how a failure to exercise reasonable care can have legal implications in various circumstances.
Learn the definition and causes of personal injury (liability injury), including non-bodily injury arising from libel, slander, false arrest, wrongful eviction, and violation of privacy rights.
Discover ERISA liability, a mandatory obligation for employees in financial capacities to ensure the proper management of pensions and benefits.
Learn about the concept of Penalty (Surety) in Fidelity Bonds. Discover how it defines the maximum liability insurance companies are responsible for in surety agreements.
Civil wrong, or tort, involves acts against another person or their property, including the breach of contract terms. Learn about its significance in general insurance.
Explore the concept of malpractice, focusing on improper conduct by professionals and their legal liabilities in the context of liability insurance.
Understand the concept of Assumption of Risk in common law. Learn how individuals assume certain risks through their actions and its implications in legal defenses.
Understand the Errors and Omissions Clause in reinsurance, ensuring that minor errors or omissions do not invalidate the reinsurer's liability.
Learn about the term Excess Limit (Liability), which refers to the additional coverage provided by a policy that exceeds the basic limit. Discover its significance in secondary policies and liability protection.
Explore the legal concept of imputed acts where actions performed by an agent are considered those of the principal. Learn how imputed liability works in various legal scenarios.
Learn about landlords protective liability insurance. This coverage protects property owners renting out their properties to tenants from liability claims.
Learn about open policy in property insurance including its definition, how it's used for goods in transit, and the benefits it offers. Understand the specifics of liability limits and premium payments.
Learn about the concept of attractive nuisance in legal terminology, which refers to potentially hazardous property features that appeal to children, such as a swimming pool, and the liability implications for property owners.
Explore the essentials of a buy-sell agreement in liability insurance, a vital contract ensuring business continuity and ownership transitions. Learn about its significance, components, and pricing stipulations.
Explore Innkeepers Legal Liability Insurance and learn how it safeguards hotel and motel operators against legal liability for guests' property.
Learn about 'Cut off' in reinsurance, a key stipulation in contracts, outlining that reinsurers are not liable for losses from events post-termination.
Explore what a declaration means in legal terms and its significance in liability and property insurance, detailing how it's a written statement of factual information.
Learn about the Demolition Clause in Property Insurance, a provision that prohibits liability for demolition costs of undamaged property. Essential for property owners and compliance with building ordinances.
Explore the ins and outs of the fire damage limit in liability insurance. Understand how this specific limit applies to fire legal liability coverage and its implications for policyholders.
Understand what a hold harmless agreement is in liability insurance. Learn how one party can assume inherent risks, removing potential liability from another party.
Learn about limited partnerships, where two or more individuals manage a business together, focusing on the role and liability of limited partners in the insurance domain.
Learn about punitive damages, a form of punishment awarded against negligent, omission, or malicious acts by individuals or companies. Explore how these damages relate to general liability policies.
Learn about the role of an insurance adjuster, a professional responsible for investigating claims, determining liability, and assessing damages. Understand their duties, including interviews, property inspections, and record reviews.
Discover the concept of absolute liability in general insurance, where individuals are held responsible for extremely dangerous actions regardless of negligence. Learn how this differs from other forms of liability and its implications on public policy.
Understand the Basic Limits of Liability in general insurance, defining the minimum amount for which a liability policy can be written according to published rates or the law.
Learn about Directors and Officers Liability Insurance, which protects leadership from liability claims due to alleged misjudgments and unjust acts.
Explore the concept of gross negligence in legal terminology, where negligence is considered intentional. Learn its implications, differences from ordinary negligence, and legal consequences.
Explore Public Liability Insurance, covering bodily injury and property damage liabilities. Essential for protecting your business from legal actions brought by the public.
Learn about the term 'Casualty' in general insurance, which refers to a loss incurred due to an accident. Expand your insurance vocabulary with clear definitions.
Learn about Coverage Trigger (Liability), a crucial concept in determining if an insurance policy covers a claim. Understand how it functions in liability insurance.
Explore the intricacies of dram shop laws, a liability law governing the serving of alcohol and its consequences. Learn how individuals and establishments could be held responsible for intoxication-related injuries and damages.
Explore the concept of Waiver in Insurance and Legal Terminology, including its applications, definitions, and implications for contracts, liabilities, and privileges.
Learn about the Unsatisfied Judgment Fund in vehicle insurance, a legal mechanism to aid individuals injured in car accidents who cannot collect compensation from the responsible party.
Learn about Garage Keepers’ Legal Liability Insurance, which offers protection to garage owners against liability for damages to vehicles in their care or custody.
Discover what loss reserve means in general insurance. Learn about the insurer's estimated total liability for pending claims, incurred but not reported losses, and more.
