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.

Detailed explanation-2: -There are a number of liabilities insurance policy available. These include third party liability, public liability, product liability, employer liability, professional liabilities, industrial risks and so on.

Detailed explanation-3: -Liability losses are the amount of money an organization must spend to respond to actual claims brought against it. These losses may include compensatory or punitive damages as the result of personal injury or property damage claims brought against an organization by employees or the public.

Detailed explanation-4: -The property insurance policy is the insurance that protects the physical goods and the equipment of the business or home against any loss from theft, fire, and any other perils.