IncomeTax/Insurance

LIABILITY INSURANCE

Liability insurance does not have direct policy – holder. Insurer does not deal with policy –holder but deals with third parties . each liability policy has different nuances in it’s wording. The claims procedures are worded in the policy. The issue risks and excluded risks are properly given in the policy. Liability claims deserve more attention.

Doctors are liable for ill- treatment of their parties. Employees are liable for accident or death of employees during performance. There are several other examples which can case liability to a party. Liability claims to be more complicated because of the sheer number of parties. The insured has to prove this liability to third party for which insurance is taken.

Liability policies may be assured their on claims. Made are an occurrence based working claims. Made working indicates the claim should have occurred during the period of insurance. The claim should be made during the policy period of 12 months during which the policy is inforce. In a occurrence based wording, the even giving risk to the claims must occur during the policy period. The insurer world response whenever the claim is made.