Liability Insurance

General liability insurance typically covers a third party from putting a claim against a companies operations. Some of the things that can be covered are property damage and bodily injury.

Any insurance agent or website can provide information about business liability insurance, but it may be best to check with the Small Business Association (SBA) or an attorney to learn the most advisable coverage for a specific business or business type.

Liability insurance is purchased to protect oneself from the risk of liabilities that are a result of a lawsuit. It its prominently used in car insurance, but can also be purchased for products, and by employers.

Look for companies that provide business insurance to small businesses. Most any insurance company will offer public liability insurance, but the purchaser must be prepared to provide answers to the questions they will be asked to get a quote.

Each state has its own liability insurance requirements of a certified public accountant. These amounts may also differ whether the business is a sole proprietorship, partnership, or corperation.

This classification only applies to employed draftsmen whose duties are strictly limited to office work only.

By Dr. Henry Vincent (Vincent & Vincent Companies, USA)

Owning a car is different to driving one. A driving license is needed to drive the car and in most jurisdictions, it is not needed to own a vehicle.

Public liability insurance covers damage or injury to third parties, whether they be visitors, tradesmen of even trespassers, that occur on your property or through your actions or lack of action.

Liability only protects you from claims, UM is almost always only for injuries only. If they caused the damage, you have to track them down and make a claim against their insurance if they have any and you can find them. Check with your agent, we can only provide general answers that apply to most people in most states.

By "only when you need it" do you mean only when you are aware of a claim or potential claim? If so, the answer is "NO". You cannot buy insurance on a burning house, so to speak.

Liability insurance covers third party lawsuits resulting from a contractors operations. This includes parties injured by faulty construction and also property damage resulting from faulty construction. Liability insurance DOES NOT cover the contractors property that is "their work" which needs to be covered by builders risk insurance.

Construction insurance policies are complex so make sure you work with a construction insurance broker to get quotes and understand what you are buying. Policies can be written to exclude types of work, certain projects, certain types of claims, and prior work performed.

Not usually. If you are trying to make a claim from the stolen car's owner, you likely won't get coverage. Most liability policies have an exclusion for 'intentional acts' or claims arising out of the criminal use of a vehicle, which would include if the car was stolen.

But if you have uninsured motorists coverage (many states require it), then you'll be covered anyway from your own policy and won't need to make a claim against the owner.

Also....you would likely have personal liability against the thief so you could try to collect against that person.

You just contact the insurance company that issued the policy.

That depends on what your trying to insure against. There are many types of liability insurance in the market place.

Yes, Just rent a car for the day and ask for the car insurance with the rental rate.

There is no minimum. They can buy whatever insurance limits they want, or they can buy none at all.

I believe it is a Commerical Liability Policy or Business Owners and includes General Liability, Inland Marine & Property or at least that is what I have found in my research

Just Ask your insurance Agent. There are plenty of companies that will underwrite risks in the Sporting and Sports Entertainment industries.

General Liability is designed to protect you and your business from certain claims, you may want to consider Medical and Personal Injury coverage for the Wrestlers as well.

Lloyds London is one market that will insure you.

Subrogation is the right of an insurance company to attempt to recover claims paid to their own insured, from negligent 3rd parties.

Let's say that your automobile is insured with Big National Insurance Co (BNIC)., and you are in an accident with two other autos, one insured with Fancy State Insurance Co. (FSIC), and the other auto is uninsured. The first question is that of fault; who caused the accident. Let's assume that it was not you. You may be injured, which might trigger no-fault benefits (varies by state, of course), and your car is damaged and requires repairs totaling $3,000. You submit your claim to BNIC, since they are your insurance company. BNIC then pays your medical benefits and pays to have your car repaired. You are now "made whole" and you get on with your life.

BNIC at this point is "subrogated" for what they paid to you and on your behalf. BNIC now has the right to seek reimbursement from both other drivers. FSIC would step in and protect their insured driver, and while the two insurance companies may not entirely agree on fault, amount, etc., there is usually a mechanism to mediate or arbitrate the dispute. The uninsured driver, however, may be held personally liable. Depending upon whether that driver has sufficient personal assets, BNIC may or may not file suit to collect what they feel they are owed. This is "subrogation". Your insurance company, by paying your claim, now "stands in your shoes" to recover from 3rd parties.

Payout is dependent on the sustained losses and coverage limits of the policy the insured purchased.

There is no average.

1 billion dollars