Related Words

Liability Coverage: Insurance protection against injury and damage claims by third parties, available as option for car rentals.

Liability Insurance: Insurance against legal liability to pay compensation and court costs where the insured has been found negligent in respect of injuries sustained by another person or damage to his/her property.

Liability Funding Strategies: Investment strategies that select assets so that cash flows will equal or exceed the client's obligations.

Liability Swap: An interest rate swap used to alter the cash flow characteristics of an institution's liabilities so as to provide a better match with its assets.

Limited Liability: Limitation of shareholders' losses to the amount invested.

Limited Liability Company (LLC): LLCs are a relatively recent form of business organization. An LLC combines the most attractive features of limited partnerships and corporations. The members of an LLC enjoy the limited lia . . . View Full Definition

Limited Liability Company: Organizing a business enterprise as a limited liability company (LLC) under the laws of the state where it operates protects its owners or shareholders from personal responsibility for compa . . . View Full Definition

Liability: The debts of a person or company

Joint Liability: The legal liability of two or more people for claims against or debts incurred by them jointly. If three people have joint liability and are indebted to another party, they may only be sued . . . View Full Definition

Individual Stop-Loss Coverage: A type of stop-loss insurance that provides benefits for claims on an individual that exceed a stated amount in a given period. Also known as specific stop-loss coverage.