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Liability coverage pays for the policyholder’s legal responsibility to others for bodily injury or property damage. Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses. Most states require drivers to have auto liability insurance before they can legal-ly drive a car.
Commercial General Liability Insurance . A line of . insurance available to commercial organizations that provides coverage on behalf of insureds for sums they may be legally required to pay to others as a result of the insureds’ actions or negligence. May include coverage for bodily injury, property damage, personal and adver-
This page provides a glossary of insurance terms and definitions that are commonly used in the insurance business. New terms will be added to the glossary over time. The definitions in this glossary are developed by the Research and Actuarial Department staff based on various insurance references.
13 Ιουλ 2022 · Employer’s liability insurance helps protect your business if an employee sues you after getting a work-related injury or illness that’s not covered by workers’ compensation insurance. Employment Practices Liability Insurance (EPLI)
valuable addition to any business library and a helpful resource for anyone who needs to understand the meaning of terms and concepts generated by the ever-changing insurance industry.
The Essentials—Busting insurance jargon. The insurance world uses some technical terms with a known meaning for insurers and their investors. For investors, navigating this world of jargon can be a challenge. IFRS 17 Insurance Contracts introduces fundamental changes to insurance accounting for some insurers.
Commercial Insurance refers to insurance policies that cover any business or commercial activity and makes up around 40%i of the insurance market with the remaining 60% being classed as Personal insurance. Commercial insurance is sold to businesses of all sizes from small to medium
