Definitions of LIABILITY INSURANCE on the Web:
Insurance for what the policyholder is legally obligated to pay because of bodily injury or property damage caused to another...
No, Insurance is a means of contractually transferring risk including the risk of liability to another entity, namely the Insurance Company issuing the policy.
In many cases when you enter into a contract, whether it is a contract for work, a lease agreement or any other type of contract, there will be clauses covering insurance and indemnification, which...