Liability assumed under some contract such as a lease that would not be present except for the contract.
Insurance Encyclopedia
Liability Criminal
Criminal liability is enforced by the state and it results into punishment in the form of fine or imprisonment or both
Liability determination
In a Medicare case, to find out whether the beneficiary and the provider did not and could not have been reasonably expected to know that payment would not be made for services.
Liability Exposure Emergency
If a person in a moment of imminent danger, acts in a way which causes injury to another, he will not be held liable in negligence if his act was not unreasonable in the difficult situation in which he was placed.
Liability insurance
MEDICAL,USA: 1. Form of insurance coverage that protects the insured against injury, illness, inappropriate action or inaction, or property damage claims from other parties. It includes automobile liability, uninsured and underinsured motorist, homeowner’s liability, malpractice, product liability, and general casualty insurance. It includes payments under state “wrongful death” statutes that provide payment for medical damages. 2. Related to a physician, this is insurance against loss due to claims for damages alleging malpractice by a physician while exercising his or her profession. Also known as professional liability insurance (PLI) or malpractice insurance .
***
An insurance which covers the insured against third party claims or, in the case of employer’s liability insurance, claims by employees, subject to specified terms and conditions.
***
Any form of coverage whereby the insured is protected against claims of other parties from specified events. Liability Insurance Act Policy under “Public Liability Insurance Act 1991” (Hazardous substances) Effective date 1.4.1991 for new owners and 1.4.1992 for existing owners : To provide through Insurance, immediate relief by “owners ” to persons affected due to: “Accidents : Fortuitous, sudden or unintentional occurrence” While “handling e.g., Manufacture, processing, treatment, package, storage, transportation by vehicles, use, collection, destruction, conversion, offering for sale, transfer or the like. Hazardous Substances viz., Any substance or reparation which, by its reasons of its chemical or physio-chemical properties or handling is liable to cause harm to human beings, other creature, plants, micro-organism property or the environment (the Environment protection Act, 1986) and as notified, by the Central Government (Public Liability Insurance Act – 1991) ” On No fault liability basis.
***
Coverage for all sums that the insured becomes legally obligated to pay because of bodily injury or property damage, and sometimes other wrongs, to which an insurance policy applies.
***
UK: Insurance against the legal obligation to pay compensation and costs to third parties and employees for loss, injury or damage. Liability may arise through negligence; strict liability; breach of statutory duty; breach of contract. Key liability policies include employers’ liability, public liability, products liability, professional indemnity and directors’ and their duties.
***
US: Insurance covering the policyholder’s legal liability resulting from injuries to other persons or damage to their property. Provides protection for the insured against loss arising out of legal liability to third parties.
***
Insurance paying or rendering service on behalf of an insured for loss arising out of legal liability to others.
Liability insurance (Liability Insurance)
Insurance that covers the insured against a loss that stems from his responsibility to other people. This responsibility can be compulsory under the law or implied in a contract.
Liability Insurance Carriers Legal Liability Insurance
Covers Carriers legal liability as per provisions of Carriers’ Act 1865. In order to provide an insurance cover to the common carriers and transporters against the stipulation of absolute liability under the Carriers Act, the Carrier’s Legal Liability Policy has been devised. At present the CLL policy gives the following coverage: Basic cover : covers damage to goods caused by fire, explosion and or accident to the vehicle carrying the goods due to negligence or criminal act of his servants. The cover will commence with the loading of the cargo and end with its unloading. Wider cover : The following risks are covered in wider cover which is allowed as a package deal and no partial extension may be allowed: (i) Damage to cargo as in basic cover. (ii) Damage by fire, burglary, riot & strike and malicious damage affecting the goods at warehouses or transshipment yard, whilst in the custody of the carrier. (iii) Shortage of goods due to theft or pilferage of cargo at any time whilst in the custody of the carrier. (iv) Breakage, leakage, damage due to improper handling. Exclusions : (a)Riot and Strike (available as add-on), war perils, nuclear and radiation perils, contractual liabilities, liability to own, employees, agents and sub agents and their properties and belongings (b) Losses due to inherent defects, mechanical or electrical derangements, (c) Consequential loses, and (d) Carriage of illegal, illicit or smuggled goods. Duration : The cover is during transit, incidental storage, transshipments and up to seven days after reaching final place.
Liability Insurance for Hotel Owners
Policy covers legal liability of Hotel owners for: (a) Accidental bodily injury (including death) of any visitor or guest including while using facilities such as Health clubs, Beauty parlors, Hair dressers Shops, Swimming Pools (life guard provided or not), Sports (indoor-Table Tennis, Squash, Bowling, etc.), (outdoor: Boating, Deep Sea Diving etc, Skiing, Hang Gliding, Sky Diving etc) (b) Accidental damage to the property of any visitor or guests. (c) Injuries (including death) due to food poisoning. (d) Loss of visitors property from the premises. The Policy covers legal liability only if both injury or damage is caused through fault or negligence of (i) the insured (ii) the insured’s contractor (iii) any of its employees or (iv) defect in the ways, works, machinery or plant.
Liability Insurance for Medical Payments
A coverage included in some liability insurance policies, in which the insurer agrees to reimburse the insured and/or others, without regard for the insured’s liability for medical or funeral expenses incurred as the result of bodily injury or death by accident under the conditions specified in the policy.
Liability insurance payment
Under Medicare Secondary Payer guidelines, payment by a liability insurer including a payment to cover a deductible required by a liability insurer by any individual or other entity that possesses liability insurance or is covered by a self-insured plan.