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4 Cards in this Set
- Front
- Back
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Insurance |
A practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium. |
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Liability |
The state of being responsible for something, especially by law. |
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Limitation of Liability |
A provision in a contract that limits the amount of exposure a company faces in the event a lawsuit is filed or another claim is made. |
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Safe Deposit Box |
An individually secured container, usually held within a larger safe or bank vault. |
