Claim, Obligation To Pay
Definition of "Claim, obligation to pay"
Clause in liability insurance policies stating that the insurance company has a legally enforceable obligation to pay all claims and defend all suits (even if groundless) up to the policy limits on behalf of the insured for which the insured becomes legally obligated to pay.
Popular Insurance Terms
Determination that group plans offering legal services are limited to an annual tax-free benefit of $70 per employee; group plans may offer employer-provided educational assistance plans on ...
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Canadian retirement plan much like U.S. individual retirement account (IRA). Here, an employee can contribute on a tax deductible basis C $3500 each year as a member of an employer pension ...
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