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Yes, you can purchase a "monoline" Commercial General Liability policy for a vacant lot if the building has been burned to the ground. If the building is only partially damaged or a significant amount of debris remains at the site, you may have difficulty finding coverage because the undamaged portion of the building may present a hazard insurers would be reluctant to cover.

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โˆ™ 2015-07-15 21:46:36
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Q: Can a building that has been burned be insured for liability only?
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What is the insurance company responsibility to help you when you have an accident and its not your fault and you only have liability?

A liability insurer has two primary duties to an insured who has been sued: (1) a duty to defend; and (2) a duty to indemnify. The duty to defend means that the insurer is obliged, at its own expense, to hire counsel to defend the insured provided that the allegations of the lawsuit come within the ambit of the coverage of the policy. That is, for example, the liability coverage of a homeowner's policy will not be triggered to defend you if you are sued for an automobile collision. If you have not yet been sued, but a claim has been asserted (such as by a demand letter from the aggrieved party), the liability insurer is obliged to investigate the facts of the claim. Most personal liability policies give the insurer the right to settle claims without the consent of the insured, so it may also make a payment to the claimant. The correlative obligation of the insured is to timely notify the insured of all claims made against him/her/it, forward suit papers, and cooperate with both the insurer and the attorney hired to defend the suit. The cooperation includes meeting with the attorney as needed, responding to requests, attending depositions, attending trial, and other activities. The second main obligation of a liability insurer is to indemnify the insured, meaning, to protect him/her/it from financial loss. This involves paying damages for which the insured may be found legally liable (within policy limits). Again, the insurer usually has the right to settle claims when it deems it in its and the insured's best interests to do so. Indeed, the insurer has a specific duty to settle claims within policy limits when it is possible to do so (that is, when the claimant will accept that amount of money in return for a release of the insured of further liability).

A liability that has been incurred but has not been recorded in the accounts is known as?

An accrued liability

A liability that has been incurred but has not been recorded in the accounts is known as...?

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Has Torah ever been burned by anyone?

Torahs have been burned for centuries.

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