Insurance coverage for accountants to protect against liability lawsuits arising from their professional activities.
In insurance contexts, the 'Amount at Risk' is a key concept that refers to the potential financial loss an insurer faces, which can vary depending on the type of insurance policy.
A comprehensive insurance package that provides protection for a business's property against damage or destruction caused by perils such as fire, smoke, and vandalism, as well as liability coverage if the actions (or non-actions) of the business's representatives result in bodily injury or property damage.
An insurance policy that combines various risk coverages into one package designed for small to medium-sized businesses.
Casualty insurance provides coverage primarily for the liability of an individual or organization resulting from negligent acts and omissions, thereby causing bodily injury and/or property damage to a third party.
Comprehensive Personal Liability Insurance offers protection against personal liability claims arising from personal acts and omissions by the insured and residents of the insured's household. This coverage includes a range of activities, from sports and pet-related incidents to unique occurrences like someone tripping in the insured's cemetery plot.
Compulsory insurance refers to insurance coverage mandated by law. It requires individuals or businesses to possess a minimum amount of insurance to cover specific risks and liabilities, ensuring financial protection and compliance with regulatory standards.
A contract of indemnity in property and liability insurance aims to restore the insured to their original financial condition after suffering a loss, without allowing for profit from the loss.
Cumulative liability is the total of the limits of liability that an insurer or reinsurer has outstanding on a single risk. It includes all contracts from various insurers and covers all lines of coverage for that risk.
Insurance coverage refers to the total amount and type of insurance a policyholder possesses. It encompasses various forms covering different risks, safeguarding individuals and businesses against potential losses.
An insuring agreement in a liability insurance policy outlines the obligations of the insurer to provide coverage for specific risks or events that may result in a claim against the insured.
Liability insurance provides protection from claims arising from injuries or damage to other people or property. It is essential for motor vehicle, home, and business owners. Business liability insurance premiums are deductible.
A component of a business liability policy that provides coverage for bodily injury or property damage liability to members of the public while on business premises.
Uninsured Motorist Insurance is a form of automobile insurance that covers the policyholder and family members for injuries caused by a hit-and-run driver or an uninsured motorist, provided the at-fault driver carries no liability insurance.
