In tort law, special damages aredamages like car dents or medical expenses that can actually be ascertained, and they are contrasted with general damages, which refer to damages for things like intentional infliction of emotional distress which do not have a set monetary cost. What are the 5 t...
What is punitive damages in insurance?Punitive Damages:If a court rules that a defendant was intentional in causing harm to someone else, they may award the victim with punitive damages. Punitive damages are meant to punish people who had malice in their intent....
Commercial insurance companies also sell excess liability coverage, which can be purchased in order to cover claims that exceed the limit of the CGL policy.3Some commercial general liability policies may have exclusions that restrict what actions are covered. For example, a policy may not cover the...
Commercial general liability insurance provides the insured with coverage for common liabilities. It covers your legal fees in the case of lawsuits and pays out damages on your behalf if you’re found liable, up to the maximum limit set by your business insurance policy. Almost all businesses in...
Medical malpractice, professional liability, and errors and omissions insurance are examples of indemnity insurance. Investopedia / NoNo Flores How Indemnity Insurance Works Indemnityis a comprehensive form of insurance compensation for damages or loss. In a legal sense, it may also refer to anexemption...
Third-party coverage — this policy covers damages or settlements the organization must pay due to suits or claims for injuries resulting from the organization’s actions or failure to take action. For example, consider a data breach in which attackers steal customer data and leak it onlin...
Do I Need Full Coverage Insurance? Basically, if you can get full coverage insurance at a good rate, go for it. Liability is amust, and you need decent auto coverage in general. If your state also requires you to have other coverages like uninsured/underinsured motorist coverage or PIP, ...
Additional living expenses: If a covered event damages your home to the point it becomes unlivable, your insurance will cover your living expenses. There are a few other things renters insurance covers, but these are the main four parts of your coverage. Renters insurance is less comprehensive ...
Your commercial general liability insurance, or CGL, is designed to protect you while limiting the insurer's risk in worst-case scenarios. The general aggregate limit in your CGL insurance is an example of that balancing act. It places a ceiling on the i
Yes, you can purchase auto insurance coverage if you don’t own a car, but need to drive another vehicle. In these instances, a non-owner car insurance policy can provide liability coverage for damages or injuries in accidents where you are the at-fault driver. What Does Non-Owner Car ...