A form of insurance by which an insurance company pays for a policyholder's financial loss resulting from an automobile accident without concern for who was at fault.
A share of the earned surplus apportioned for distribution and reflective of the difference between the premium charged and the actual loss experience. In a mutual or participating company, it is the return to the policyholder out of the earnings of the company. In a stock or nonparticipating insurance company, it is the division of the profits among the stockholders of the company. A refund of part of the premium on a participating life insurance policy.
Protects an employer against the claims for damages, which arise out of the injuries to employees in the course of their work. Employer's liability insurance provides protection in cases not covered by workers' compensation insurance.
The coverage of loss or liability arising from an accident or mishap excluding certain types of loss which by law or custom are considered as falling exclusively within the scope of other types of insurance such as fire or marine. It includes, but is not limited to, employees' liability insurance, workers compensation insurance, public liability insurance, automobile liability insurance, plate glass insurance, burglary and theft insurance; also personal liability insurance, forgery, power plant and aviation insurance.