Definition of "Tort, unintentional"

Sharon Hodnett ® real estate agent

Written by

Sharon Hodnett ®elite badge icon

Keller Williams Realty, Southlake

Individual action or failure to act as a reasonably prudent person would under similar circumstances, resulting in harm to another. Also called negligence. A reasonably prudent person is defined by the standards of the profession that are followed, and the level of expertise expected of a person with like training. An example is a CPA who fails to complete tax returns on behalf of a client according to generally accepted accounting principles.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Net profit of a business, less dividends. Reinvestment of retained earnings enables an insurance company to write more business from a stronger capital base. Contributions to retained ...

Death benefit option in which a beneficiary of a life insurance policy receives the death benefit as a single sum payment instead of installments. ...

In some states, principle of tort law providing that in the event of an accident each party's negligence is based on that party's contribution to the accident. For example, if in an auto ...

Selection of restricted random samples in order to obtain a more accurate estimate of the expected loss (mean) than could be obtained by the selection of completely RANDOM SAMPLES. For ...

Coverage on an all risks basis for loss due to theft or mysterious disappearance of personal property; damage to premises and property within resulting from theft; and vandalism and ...

Information needed for underwriting a life insurance policy, such as an applicant's age, weight, height, and build; personal and family health record; occupation; and personal habits. These ...

State that increases the probability of a loss. For example, storage of flammable material next to a furnace in one's home increases the hazard with the knowledge of an insured, and is ...

request by an insured for indemnification by an insurance company for loss incurred from an insured peril. ...

Analysis of uncertainty of financial loss. This classification can be according to whether a risk is fundamental, particular, pure, speculative, dynamic, or static. In life insurance the ...

Popular Insurance Questions