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13 Cards in this Set
- Front
- Back
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Liquor liability insurance |
Covers liability arising out of the business of manufacturing, filling, or serving alcoholic beverages. |
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Fiduciary liability insurance |
Protect the retirement plan, and individuals acting as trustees, from suits alleging wrongful acts in handling the investments of funds. |
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Excess liability policy |
Written over primary policy to increase the overall amount of protection. Only increases the overall limit of the coverage, does not broaden coverage |
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Bodily injury liability |
Legal liability arising from physical injury to a person, including sickness, disease, and death caused by negligence or purposeful acts or omissions of an insured. |
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Advertising injury liability |
Legal liability arising from the misappropriation of advertising ideas or style of doing business, infringement of copyright, title for or slogan, and oral or written material that violates a person's right to privacy. |
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Legal liability coverage (form) |
Covers the insured's legal liability for loss or damage to real or personal property of others that is in the insured's care, custody, and control and is caused by a covered peril |
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Absolute liability |
A doctrine that applies only in particular circumstances. Employers are absolutely liable for employee work related injuries. Responsibility without fault or negligence. |
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Liability insurance |
Protection in the event that the insurance and negligence causes bodily injury or property damage to others and the insured becomes legally obligated to pay damages. -Third party insurance |
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Insurable interest (limit of liability) |
Specifies that the insurer will not be responsible for an amount which is greater than the financial interest of an insured person more than the limit of liability stated on the declarations page. |
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Limit of liability. Limits on the dollar amount of coverage |
°Per occurrence limit ° per person limit ° aggregate limit °split limit ° combined single limit ° restoration of limit |
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Limit of liability |
The restriction on liability policy places on the dollar amount of coverage. |
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