liability insurance business
1business liability insurance — ➔ insurance * * * business liability insurance UK US noun [U] ► INSURANCE insurance taken out by a company to protect against injury or damage caused by a problem with a product or a failure by an employee: »Every business owner should shop for… …
2business property and liability insurance — ➔ insurance …
3Business Liability Insurance — Insurance that protects a company and/or business owner in the event of a formal lawsuit or other third party claim. Coverage includes any financial liability incurred in addition to expenses related to the company s legal defense. There are… …
4liability insurance coverage — Insurance that provides compensation to third parties who are injured or whose property is damaged due to the fault of the insurance holder. You may have liability insurance for your car or your home, or to cover actions you take in the course of …
5Liability Insurance — Any type of insurance policy that protects an individual or business from the risk that they may be sued and held legally liable for something such as malpractice, injury or negligence. Liability insurance policies cover both legal costs and any… …
6Professional Liability Insurance — Insurance that protects professionals such as accountants, lawyers and physicians against negligence and other claims initiated by their clients. It is required by professionals who have expertise in a specific area because general liability… …
7insurance business — The business of writing and issuing contracts of insurance, that is, insurance policies. 29 Am J Rev ed Ins § 5. The business of insurance consists in accepting a number of risks, some of which will involve losses, and of spreading such losses… …
8Professional liability insurance — (PLI), also called professional indemnity insurance (PII) but more commonly known as errors omissions (E O) in the US, is a form of liability insurance that helps protect professional advice and service providing individuals and companies from… …
9Directors and officers liability insurance — (often called D O) is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, to cover damages or defense costs in the event they suffer such losses as a result of a lawsuit for alleged wrongful… …
10comprehensive general liability insurance — n: liability insurance for a business that usu. covers losses from products liability, premises liability, and some liabilities that the insured assumes under a contract (as a lease) Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …
