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Liability Insurance

Definition of "Liability insurance"

Coverage for all sums that the insured becomes legally obligated to pay because of bodily injury or property damage, and sometimes other wrongs to which an insurance policy applies. Personal liability policies include comprehensive personal liability, homeowners insurance policy, personal automobile policy, Personal Umbrella Liability, and the Uninsured Motorist Endorsement. Business liability policies include business automobile POLICY (BAP), BUSINESSOWNERS POLICY, Completed Operations and Products Liability, COMMERCIAL GENERAL LIABILITY INSURANCE (CGPL), Employers Liability and Workers Compensation, MANUFACTURERS AND CONTRACTORS LIABILITY (M&C), OWNERS, LANDLORDS AND TENANTS LIABILITY INSURANCE POLICY (OL&T), Physicians, Surgeons and Dentists Professional Liability, STOREKEEPERS LIABILITY INSURANCE, Umbrella Liability Policy, and the Uninsured Motorists Coverage.

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