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The full dollar value of the erroneous payment less any amount recovered from the payee.
The full dollar value of the erroneous payment less any amount recovered from the traveler.
A Certifying Officer's maximum level of pecuniary liability for erroneous payments is typically limited to the amount of the payment made. They could be held personally liable for the amount if they knowingly or negligently authorized a payment that was improper or not supported by adequate documentation.
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The full dollar value of the erroneous payment less any amount recovered from the traveler.
Liability coverage (often simply called "liability") protects you from damage you do to others or to property in an accident. Some level of auto liability insurance coverage is required in all 50 states - get info for your state's auto liability insurance coverage requirements here.
The level of punishment depends on the amount of damage that was caused. It is: (1)a Class B misdemeanor if the amount of pecuniary loss is less than $500; (2) a Class A misdemeanor if the amount of pecuniary loss is $500 or more but less than $1,500; (3) a state jail felony if the amount of pecuniary loss is $1,500 or more but less than $20,000; (4) a felony of the third degree if the amount of pecuniary loss is $20,000 or more but less than $100,000; (5) a felony of the second degree if the amount of pecuniary loss is $100,000 or more but less than $200,000; or (6) a felony of the first degree if the amount of pecuniary loss is $200,000 or more. An offense under this section is a state jail felony if: (1) the marking is made on a school, an institution of higher education, a place of worship or human burial, a public monument, or a community center that provides medical, social, or educational programs; and (2) the amount of the pecuniary loss to real property or to tangible personal property is less than $20,000.
CGL stands for Comprehensive General Liability.
You can purchase limited liability insurance from any company that sells a car insurance policy, so you will choose the level of coverage you want to buy.
Unless this vehicle has special sentimental value, insure it for liability at the level and deductibles you are comfortable with and skip the collision.
You are required to carry a minimum of liability insurance on any vehicle that will be operated on public roads.
On a personal level, say credit card debt, a liability cannot become an asset to the same person. However a liability for you is an asset for someone else under accounts/notes receivable. In business, an unreceived revenue account can be purchased from another business, thus removing the liability from the financial statements for that business.