[L025]

liability insurance

Protection which pays sums that an insured is legally obligated to pay, or that the insurer has agreed to pay, as damages to others as a result of the insured's negligence. Usually provides coverage for bodily injury or damage to property of others.

(See Bodily Injury Liability Insurance, and Property Damage Liability Insurance.)

Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100

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