Direct Liability
Definition of "Direct liability"
Legal obligation of an individual or business because of negligent acts or omissions resulting in bodily injury and/or property damage or destruction to another party. There are no intervening circumstances.
Popular Insurance Terms
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Provision of liability insurance that excludes coverage for dishonest acts of an insured. ...
Payment under a state-sponsored program for victims of crimes. ...
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Compensation to an agent in the same absolute dollar amount, regardless of the type of insurance policy sold. Contrast with graded commission. ...
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Standards used to determine claims payments in cases of overlapping property/liability insurance coverage. At one time, each type of insurance had its own rules to govern claims where more ...
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