What is limited Liability insurance?

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Limited liability is a concept whereby a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership with limited liability. A shareholder in a limited liability company is not personally liable for any of the debts of the company, other than for the value of his investment in that company. The same is true for the members of a limited liability partnership and the limited partners in a limited partnership. By contrast, sole proprietors and partners in general partnerships are each liable for all the debts of the business (unlimited liability).
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Who insures commercial auto liability with limits of 1.5 million in Texas?

Your state insurance department is your best resource for insurance-related questions and concerns. Find information on insurance companies and agents, rate quotes and compari

What is Commercial combined single-limit liability insurance coverage?

You're probably talking about Auto Insurance - and Liability can be written one of two ways:. 1. With a separate limit for Bodily Injury per person and per accident, and a se

AOY Limit in Liability Insurance?

There are Two breakup in liability insurance - . AOA - Any one Accident - . AOY - Any one Year - . Generaly insurance company will ask you to specify the Sum limit for both

Why isn't the cost of liability insurance proportional to the amounts of protection for instance why doesn't a 100000 limit of liability cost two and one-half times as much as a 40000 limit?

The cost of liability insurance is not proportional to the amount of protection of insurance because it is based on cost of overhead and payout. The office costs for one polic

What are auto insurance liability limits?

This term refers to the maximum amount of money that the insurer is obliged to pay on your behalf in the event of a collision. The premium that you pay to the insurer for this

Is insurance a liability?

No, Insurance is a means of contractually transferring risk including the risk of liability to another entity, namely the Insurance Company issuing the policy.

What does limited liability car insurance cover?

Liability insurance protects a person if he or she gets in an accident and they end up hurting someone or his or her car or property. Many state have a minimum that each perso

What does limited liability insurance cover?

Limited liability insurance covers bodily injury liability like paying for medical expenses or lost wages when an accident occurs or property damage liability which takes care
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What is limited liability?

shareholders are not responsible for the debts of the corporation.