Commercial Insurance

What is third party in construction?

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2013-07-27 16:41:26
2013-07-27 16:41:26

A third party, regardless of the industry, is any entity or being other than the first party, which is you.

Property is a "first party" insurance coverage since it covers YOUR property. Liability is a "third party" insurance coverage because it covers parties other than you who might bring a suit against your company.

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