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Liability exposure is when a company or a person is open to being sued. Typically, they are negligent and cause harm, which makes the exposed to a lawsuit.

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โˆ™ 2014-06-18 21:00:16
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Related questions

Does liability differ for a paid coach versus a volunteers in case of an accident?

No, the liability exposure is the same.


How do you list and briefly describe one property loss exposure and one liability loss exposure that John and Sue will face.?

Property loss exposure: If you home was burned down not intentionally caused by you or other residents relatives caused of your household. Liability loss exposure; If you accidentally hit a golf ball and broke another homeowners window.


Does a builders risk policy provide liability?

It depends if the builder's risk policy is just for property or for property and liability. You can have a builder's risk policy, which includes general liability. If the insured is owner of the building, the general liability exposure is the cost of the project and will classes under subcontractor.


What has the author Philip E Keith written?

Philip E. Keith has written: 'Managing liability exposure' -- subject(s): Government liability, Municipal corporations, Police


How much general liability insurance should a tenant be required to carry?

Liability requirements should be commensurate with the risk expsoure excountered. One might ask, What is the maximum libility exposure of the tenant? This would be the amount of liability insurance to carry.


Do you need liability insurance for a nonprofit social club going on bus trips?

If you want to protect your non profit organization from exposure to law suits, it would be advisable to obtain coverage. Non Profits are not exempt from financial liability.


How does one define the word danger?

Webster's definition: an instance or cause of peril or liability or exposure to harm or injury. -Psymonkey21


What is a risk retention group?

Liability insurance companies owned by their policyholders. Membership is limited to people in the same business or activity, which exposes them to similar liability risks. The purpose is to assume and spread liability exposure to group members and to provide an alternative risk financing mechanism for liability. These entities are formed under the Liability Risk Retention Act of 1986. Under law, risk retention groups are precluded from writing certain coverages, most notably property lines and workers' compensation. They predominately write medical malpractice, general liability, professional liability, products liability and excess liability coverages. They can be formed as a mutual or stock company, or a reciprocal.


How much will one pay for business liability insurance for a house painting business in Florida?

As with any business, It all depends on your risk exposure. Are you painting 2 or 3 houses per year? or are you painting 500 houses a year? The premium will reflect the overall exposure.


What are the Commercial general liability insurance rate averages?

I think your best bet is to contact a multi-line agent, there are many different limits, the amount of exposure etc.


What are the advantage and disadvantage of insurance in construction?

There aren't really advantages or disadvantages of insurance in construction, but instead insurance helps project owners, developers, and contractors mitigate their financial risk during the construction project. Construction has property exposure, liability exposure, and work comp exposure that need to be insured at a minimum. Chris Larmore - Parenti Insurance


Explain why sprays can contain warnings such as do not puncture or incinerate?

Sprays and contain warnings to ensure people are aware of the potential for danger. Manufacturers place these warnings on cans to limit their exposure to liability.


Does garage keepers liability fall under the broader category of Commercial Liability?

Yes, garagekeeprs is part of the typical commercial insurance policy package, along with business auto general liability and property coverage, among others. Garagekeeps covers the commercial exposure for vehicles left in the insured's possession (which would be excluded under the general liability policy's auto exclusion) and usually has both comprehensive and collsion elements. For example, a vehicle left at a body shop or for an oil change.


What does it mean if General liability insurance cancelled due to exposure change?

A change in exposure generally indicates that the insured is engaged in business operations that are outside the scope of the policy issued. In simpler terms, the insurance is inadequate for the exposure. For example;, You have a roofers insurance policy for residential roofing exposures, but you have recently added commercial roofing to your company offering, This would create an exposure change that you would need to have added to your insurance policy. failure to update your policy with appropriate coverage could result in cancellation of your policy.


What is the cost of general liability insurance for an independent contractor?

It all depends on the overall risk exposure. Without knowing what type of contractor you are and what you annual volume is, there is no way to guess what you might pay for your insurance.


What is another word for jeopardy?

danger,trouble, accident, chance, double-trouble, endangerment,exposure, hazard, insecurity, liability, on the line, on the spot, out on a limb, peril, precariousness,risk, venture, vulnerability


What is net liability?

Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset


Is a cheque account an asset or liability?

It comes under liability


What type of liability refers to public laws?

civil liability


Did the manufacturer of jarts or lawn darts put a value on human life as part of a lawsuit?

That's one way of putting it - another would be that they did a "cost versus benefit analysis of their liability exposure." This is a standard method of cost-accounting and is done by all major companies when attempting to determine their financial exposure during a lawsuit.


Is it best to have a business as an un-incorporated or incorporated?

Incorporated. An un-incorporated business leaves the owner(s) individually liable (including their personal assets) to financial exposure and liability. An incorporated enterprise limits the financial exposure to only those assets allocated to the business, and protects the owners personal assets.


What is contractors liability insurance?

Contractors Liability Insurance is actually a form of Commercial General Liability (CGL)insurance tailored for the construction contractors market. CGL provides insurance for your company in the event you cause property damage and/or bodily injury to a third party. (i.e., your customer or an innocent third party) CGL comes in different forms with different coverage It is essential to match yours coverage needs with your work risk exposure. A good insurance professional can help you with this. NOTE Liability insurance does not cover poor workmanship, tools or injury to employees.


What is the role of an insurance administrator?

An insurance administrator is an individual employed to assist management in assessing the firm's potential exposure to financial risk as a result of liability claims, and recommending the best insurance coverage as a precaution.


What has the author C Jaye Berger written?

C. Jaye Berger has written: 'Hazardous substances in buildings' -- subject(s): Actions and defenses, Asbestos, Asbestos abatement, Hazardous substances, Law and legislation, Liability for hazardous substances pollution damages 'Cut professional liability exposure now'


What is the difference between a current liability and an contingent liability?

Current liability is that liability which is payable within one fiscal year while contingent liability is that liability which is not clear and liability until some specific future time or event.