A lawsuit.
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The act of carrying on a law suit.
Insurance Encyclopedia
Litigation bonds
See: Judicial bonds.
Litigation Costs and Expenses
A liability insurance provides indemnity in respect of litigation costs and expenses incurred in connection with a third party claim against the insured.
Livery
In automobile insurance, the carrying of passengers for hire.
Livery use
An exclusion in automobile liability policies applying to the use of autos to carry persons for hire as in a taxi service. A share-the-ride car pool is not livery use.
Livery use (Vehicle Insurance)
Using a rented vehicle to carry passengers. This is usually excluded from automobile insurance policies.
lives
Unit of measurement used by managed care plans or insurance companies to find out the number of people covered in the contract or policy. The formula for determining this number is to multiply the number of plan members by 2.5.
Livestock
Common farm animals
Livestock coverage
Life iNSURANCE on livestock covering death by named perils. Generally found in farm policies.
Livestock coverage form (Property Insurance)
A commercial form used to insure livestock. This form is usually attached to farm coverage.