GENERAL KNOWLEDGE

Detailed explanation-1: -Public liability insurance is a type of commercial insurance that protects your company from claims made by members of the public who sustain injuries, fatalities, or property losses because of your business operation. Customers, guests, and delivery people all fall under the public category.

Detailed explanation-2: -Third-party insurance offers protection against damages to the third-party by the insured vehicle. It covers physical injuries, damages to the vehicle, damage to the property, and death. Exclusions. Third-party insurance does not provide any compensation, if: The accident was caused due to drunken driving.

Detailed explanation-3: -Third Party Liability (TPL) refers to the legal obligation of third parties (for example, certain individuals, entities, insurers, or programs) to pay part or all of the expenditures for medical assistance furnished under a Medicaid state plan.

Detailed explanation-4: -Third-party liability insurance is a type of policy under which the insurance company offers cover for the insured against legal liabilities that arise due to the loss/damage caused by them to a third person’s body or their property.