Products Liability Insurance – Provides protection against claims arising out of the use, handling or consumption of a product. Professional Liability Insurance – Liability insurance to indemnify professionals, doctors, lawyers, architects, etc. for the loss or expense resulting from claims on account of bodily injuries because of any malpractice, error or mistake committed or alleged […]

Insurable Interest – A direct monetary interest in the insured property sufficient to result in monetary loss should the property be damaged or destroyed. Insurable Risk – A risk which meets most of the following requirements: (1) The loss insured against must be defined; (2) It must be accidental; (3) It must be large enough […]

Comprehensive Coverage – Pays for damage to or loss of your automobile from causes other than accidents. This includes hail, vandalism, flood, fire, theft and hit by an animal. Concealment – the action of hiding something or preventing it from being known. Consideration – 1) payment or money. 2) A vital element in the law […]

Abatement – the act or process of reducing or otherwise abating something: the state of being abated. Absolute liability – also called strict liability, is imposed on individuals whose specific actions, or failures to act, result in third-party losses, such as bodily injury or property damage. Accident – An unforeseen, unintended event; something unexpected. Act […]