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Some general liability policies DO exclude action over claims, and you should also be getting waivers of subro on work comp from the people you are working with to prevent these types of issues. Make sure you work with a risk manager or insurance broker who clearly understands your company's risk and can help you mitigate that instead of just buying pieced together insurance for it.
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What is the general liability class code for roofing?
98677 General Liability Code (Roofing—Commercial or Residential Over Three Stories) Visit us for roofing services: Green Shield Roofing
What is the difference between Comprehensive General Liability insurance and Public and Products Liability insurance?
The correct term is COMMERCIAL GENERAL LIABILITY. The term Comprehensive General Liability is a old term that was at one time used as well as Public and Products Liability. These terms are often used to mean the same ideal. Over the years the legal profession will contunuie to use them in a written contract. However it should be corrected to the correct term so all parties ar not confused. Often you may see the term expressed as COMMERCIAL GENERAL LIABILITY including products and completed operations.
What is excess insurance mean on an subcontractors insurance?
The term 'excess' insurance is usually for liability coverage. An excess liability policy is also commonly referred to as an 'umbrella' policy because it offers additional coverage over other liability coverages. In the case of a subcontractors insurance, it would be a policy which would extend higher limits than the base policy on general liability and auto liability.
Is stock of goods a liability?
i thnk its nt.stock is not a liability.stock is our asset.when it over comes its goes to liability.
What are the types of liability insurance?
In accounting terms, liability describes an obligation. It refers to money owed to complete a transaction, debt that has yet to be paid, or products or services that have been paid for but have not yet been rendered. There are two general classifications to sum up these types of liability: long term and short term/current liability. Long-term describes debt paid out over more than one year, while short-term liability refers to debt paid within a year or less. the two types of liability(in Business matter) are: 1.current liability 2.long-term liability
What are the types of liabilities?
In accounting terms, liability describes an obligation. It refers to money owed to complete a transaction, debt that has yet to be paid, or products or services that have been paid for but have not yet been rendered. There are two general classifications to sum up these types of liability: long term and short term/current liability. Long-term describes debt paid out over more than one year, while short-term liability refers to debt paid within a year or less. the two types of liability(in Business matter) are: 1.current liability 2.long-term liability
Joe is an accountant and plans to join a group of accountants. He compares a group in a general partnership with a group in a limited liability partnership (LLP). What is one advantage of the LLP that?
One advantage of a limited liability partnership (LLP) over a general partnership is that it provides personal liability protection for its partners. In an LLP, partners are generally not personally liable for the debts or liabilities incurred by the partnership, which means their personal assets are typically protected from creditors. This can offer peace of mind to Joe as he joins the group, knowing that his personal financial risk is minimized compared to a general partnership.
What is action over indemnity buy back?
Action over indemnity buy back is a legal mechanism often used in insurance and liability contexts. It allows an insurer to "buy back" the right to pursue a claim against a third party after compensating the insured for their loss. This process enables the insurer to recover costs from the responsible party while providing the insured with immediate financial relief. Essentially, it balances the interests of both the insurer and the insured in managing liability risks.
Would a last will and testament exclude any other later wills written?
Later wills take precedence over earlier ones. You cannot exclude something that is going to happen in the future.
What is over the hole insurance?
A rider for a commercial general liability policy that covers work done over top a well or hole for a well. Typically contractors that do wellhead work as well as wire lining, fracking, etc must carry over the hole insurance.
Is rule a common noun?
Yes, the noun 'rule' is a common noun, a general word for a guide or principle for conduct or action; a general word for control of or dominion over an area or people,
What is the difference between Accountability and liability?
Liability is where a business allows shareholders to have control over a business. Liability in French means check out my big saggy old man balls.
