A measurement of key financial variables that impact an insurer’s ability to pay claims. In the Insurance Regulatory Information System (IRIS), liabilities to liquid assets and agent’s balances to surplus are monitored.
Insurance Encyclopedia
Liquidity risk
The risk that an individual or business will be unable to meet its financial obligations from its cashflow. This may lead to an entity having to quickly convert assets into cash at considerable loss or becoming insolvent.
Liquor liability coverage
liability Coverage for owners and operators of establishments selling or serving alcoholic beverages.
Liquor Liability Insurance
See: “Dram Shop Liability Insurance.”
Liquor Liability Policy for Liability Insurance
The policy is designed for manufacturers, distributors etc of alcoholic beverages. The policy covers the liability excluded under CGL Policy. The policy is also available to bars, restaurants etc for their so called “Liquor Liability” imposed by Common Law or by Statutes. Protects the owners of an establishment in which alcoholic beverages are sold against liability arising out of accidents caused by intoxicated customers who have been served or sold the alcoholic beverages. See Also: Liability Insurance, Dram Shop Liability Insurance.”
Liquor License Bond
Insurance required by a regulatory body for those having liquor licenses.
List service (listserv)
An online computer service run from a website where questions may be posted by subscribers. It is a single e-mail address that resends to many others and allows a discussion to continue among a group of participants. Also called distribution list or e-mailing list .
Listed vehicle
Lloyd’s corporate vehicle listed on the London Stock Exchange.
Listing
A list of Insurers or reinsures subscribing a contract, showing their relevant participations. The term is applied in Direct cargo practice also to an advice given to open cover Insurer in respect of an extraordinarily large declaration on the cover.
Litigant
One who is engaged in a lawsuit.