MANAGEMENT

Detailed explanation-1: -Anyone driving a vehicle, practicing a profession, or running a business can purchase a third-party insurance policy. In other words, individuals who can be legally responsible for paying for damages or injuries resulting from their unintentional fault can opt for such insurance.

Detailed explanation-2: -It is when you are legally responsible for a financial loss of another. This liability can arise out of: intentional torts; unintentional acts/negligence; and. contracts.

Detailed explanation-3: -Health Insurance-Coverage designed to protect against financial losses resulting from sickness or accidental bodily injury. Health insurance coverages include accident insurance, disability income insurance, medical expense insurance, and accidental death and dismemberment insurance.

Detailed explanation-4: -Examples of liability exposures are bodily injury or death of customers, product liability, completed operations (i.e., faulty work away from the premises), environmental pollution, personal injury (e.g., false arrest, violation of right of privacy), sexual harassment, and employment discrimination.

Detailed explanation-5: -When you buy insurance, you purchase protection against unexpected financial losses. The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident happens, you may be responsible for all related costs.