MANAGEMENT

Detailed explanation-1: -Liability insurance is the type of policy that protects the insured against financial liabilities resulting from injuries to any person as well as property damage. Apart from this, liability insurance provides coverage for any legal cost or debt that the responsible party is found legally guilty of.

Detailed explanation-2: -A liability insurance plan protects from the claims that are filed by the various stakeholders against the business entity. Liability insurance coverage includes the legal costs as well as any compensation that is payable by the business entity. This amount is subject to the sum assured in your insurance policy.

Detailed explanation-3: -Personal possessions cover is an add-on that only a comprehensive car insurance policyholder can purchase. The insurer will provide coverage for any loss or damage to any of your personal possessions kept inside the car as per the insured declared value of your car insurance policy.

Detailed explanation-4: -Life Insurance as a Liability Any type of life insurance that doesn’t earn cash value is considered a liability. The most common type of non-cash value life insurance is term life insurance. With a term policy, you owe regular payments and you’re not guaranteed anything in return.