Insurance 101 – Chapter 5 – Volume 21 – The Dual-Promise Policies

The Dual-Promise Policies

Modern liability policies make two promises:

  • to defend the insured; and
  • to indemnify the insured if the insured is found liable for damages.

Because the cost of defense often exceeds the amount of indemnity owed to the third party. Cost makes the duty to defend one of the most important aspects of any liability policy. People buy liability insurance to get protection from the expense of unwarranted litigation.

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

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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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