Legal liability that does not stem from a contract or legal agreement. For insurance purposes, this type of liability arises from a person injuring another person negligently.

Insurance against liability incurred because the insured’s negligence results in fire damage to others’ property in the insured’s care custody or control.

Legal representatives shall have the meaning assigned to it under Clause (ii) of Section 2 of Code of Civil Procedure, 1908 (Central Act of 1908) which reads: “Legal representative means a person who in law represents the estate of a deceased person and includes any person who intermeddles with the estate of the deceased and where a party, sues or sued in representative character, the person on whom the estate devolves on the death of the party to suing or sued.”

The minimum amount needed for a life insurance policy, as dictated by the laws of a specific area.

A life insurance company that sustains the reserve amount mandated by the laws of the area in which it operates.