MANAGEMENT

Detailed explanation-1: -Third-party insurance, which is also sometimes referred to as ‘act-only’ insurance is a statutory requirement for all vehicle owners as per the Motor Vehicle Act. It is a type of insurance cover where the insurer offers protection against damage to the third-party vehicle, personal property and physical injury.

Detailed explanation-2: -Liability to third parties bodily injury and or death and property damage. Personal accident cover for the owner driver for a specified sum insured.

Detailed explanation-3: -Liability insurance coverage protects you financially if you’re responsible for someone else’s injuries or property damage. Liability coverage comes standard with most vehicle and property insurance policies, including auto and homeowners insurance.

Detailed explanation-4: -Commercial liability, personal liability or workers’ compensation are different types of liability insurance.

Detailed explanation-5: -What Is Excess Liability Insurance? Excess liability insurance is coverage provided for the big, unexpected events that can have potentially catastrophic results on your business – from auto accidents to products liability claims.