Liability insurance business definition

Liability insurance business means the business of effecting and carrying out contracts of insurance, against risks of the persons insured incurring liabilities to third parties, not being risks arising out of, or in connection with the use of motor vehicles or out of, or in connection with the use of vessels or aircraft or risks incidental to the construction, repair or docking of vessels or aircraft.
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Liability insurance business means the business of effecting and carrying out contracts of insurance, against risks of the persons insured incurring liabilities to third parties, not being risks arising out of, or in connection with the use of motor vehicles or out of, or in connection with the use of vessels or aircraft or risks incidental to the construction, repair or docking of vessels or aircraft. Where the principal object of a contract of insurance is to insure a person against risks of such kinds that the business of effecting and carrying out contracts of insurance against such risks constitutes property insurance business, a company shall not for the purpose of this Act be treated as carrying on liability insurance business by reason only of the incidental inclusion in such a contract of a provision whereby the company assumes liability against the risk of the person insured incurring liabilities to third parties.
Sample 1Sample 2Sample 3
Liability insurance business means the business of effecting and carrying out contracts of insurance against risks of the persons insured incurring liabilities to third parties;
Sample 1Sample 2

Examples of Liability insurance business in a sentence

  • In broad terms, the market value of Employer Liability insurance business (total premiums) is estimated to be around £800 million in the UK in 2010 (ABI, 2011).

  • The Total Invested Assets for the Property and Liability insurance business shall be segregated and maintained separately from the Total Invested Assets held for the Insurance of Persons and Fund Accumulation operations.

  • The Syndicate’s principal activity is the underwriting of Property and Liability insurance business in the Lloyd’s market.

  • The following insurance policies are required within the scope of this contract in the minimum amounts indicated hereafter within fifteen (15) days of the notification of the contract (to be adapted): - Liability insurance, business manager;- Insurance covering its ten-year obligation, where necessary.

  • This appointment shall apply only with respect to Workers' Compensation and Employers Liability insurance business (hereinafter the "Stirling Xxxxx Florida Agency Captive Program") produced by manager as set forth in the attached Addendum to this Agreement.

  • Compiled teaching guidelines for the courses used in this research, one was “ The guideline for teaching Chinese Painting appreciation “, and the other one was “ The guideline for teaching Western Painting appreciation”.

  • Fitness World will have general Liability insurance, business interruption insurance, workman’s compensation, fire insurance, business life insurance, as well as auto machinery coverage in addition to extra expense insurance.

Related to Liability insurance business

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • Professional liability insurance means insurance against legal liability incident to the practice of a profession and provision of a professional service.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • general insurance business means any class of insurance business other than long-term insurance business;

  • Property Insurance is defined in Section 6.10(a).

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • long-term insurance business means the business of providing or undertaking to provide policy benefits under long-term policies, but does not include -

  • First party insurance means an insurance policy or contract in which the insurer agrees to pay a claim submitted to it by the insured for the insured's losses.

  • Casualty insurance means liability insurance.

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.

  • General Liability means:Your legal liability in respect of Personal Injury and/or Property Damage and/or Advertising Injury caused by or arising out of an Occurrence happening in connection with the Business other than Products Liability.

  • Blanket insurance policy means a group policy covering a defined class of

  • Coverage means the types of persons to be eligible as the beneficiaries of the Scheme to health services provided under the Scheme, subject to the terms, conditions and limitations.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following: