Definitions from the Web
Liability Insurance
Definition: Liability insurance is a type of insurance coverage that protects the insured party against claims resulting from injuries or damages caused to another individual or property. It provides financial protection and covers legal costs in the event of a liability lawsuit.
Senses and Usages:
- General sense:
Liability insurance ensures that individuals or businesses are protected financially in case they are held liable for injuries, damages, or legal expenses incurred by others.
- Business sense:
Businesses often acquire liability insurance to safeguard themselves against potential claims that may arise from accidents, product defects, or professional errors.
- Healthcare sense:
In the healthcare sector, healthcare providers such as doctors, nurses, and hospitals have liability insurance to protect against claims related to medical malpractice or negligence.
- Vehicle sense:
Liability insurance for vehicles covers damages or injuries caused by the insured party's vehicle to other parties involved in an accident.
Sample Sentences:
- Having adequate liability insurance is crucial for any homeowner to protect against potential lawsuits resulting from accidents on their property.
- The construction company wisely ensured they had liability insurance to cover any potential damage or injuries that may arise during the project.
- Doctors carry liability insurance to mitigate the financial risks associated with malpractice claims and ensure they can provide compensation to patients if necessary.
- After the car accident, the driver's liability insurance covered the medical expenses and repairs for the other party's vehicle.
Related Products:
Explore these related products on Amazon:
- Books on Liability Insurance
- Liability Insurance Policies
- Liability Insurance for Small Businesses
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