Insurance 101 – Volume 35 – Liability Insurance

Liability Insurance

Liability insurance insures people against the risks they face from damage done to third persons as a result of their acts or omissions. It does not insure the building where an accident may occur; it insures the liability of the person who owns the building. It is a method to spread the risk of loss resulting from the acts of an individual or corporation. Like property insurance, liability insurance creates a personal relationship between the insurer and the insured.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library.

Legal Disclaimer:

The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

 

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