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insurance
(redirected from liability insurance)

    Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.

insurance

Contract guaranteeing compensation to the payer of periodic premiums against loss (under stipulated conditions) by fire, death, accident, and the like. Various consumer policies also insure legal or health services, paying bills or portions thereof, within the contracted conditions. Insurance is a major component of business activity, covering potential loss of property, inventory, or goods in transit.

During the Gulf War between Iran and Iraq 1987–88, it was the refusal of insurance companies to cover losses sustained by acts of war that dissuaded oil tankers from passing through the zone of hostilities.



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? Mentioned in ? References in periodicals archive
 
Auto insurance in Missouri, like many other states, any driver or owner of an automobile is required to carry liability insurance on their vehicle Even though this is a requirement, many individuals involved in accidents find that the drivers have no insurance
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