Nonownership Liability Insurance
Definition of "Nonownership liability insurance"
Coverage for an employer against liability for property damage or physical injury caused by an employee operating a personally owned vehicle for the business firm. Employers can be held liable if an employee has an accident while driving a leased automobile or operating a motorboat that the employee owns, if it is done for the benefit of the employer.
Popular Insurance Terms
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Property, liability, or health coverage above the primary amount of insurance. For example, the primary coverage is $100,000 and the excess insurance is $1 million. After the losses exceed ...
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