Which of the following describes the policy liability limits that may be applied to either bodily injury or property damage in any combination?

What are the limits of fiscal policy quizlet?

Limits of fiscal policy include difficulty of changing spending levels, predicting the future, delayed results, political pressures, and coordinating fiscal policy.

What is the type of term which limits or excludes the liability of the party in breach?

In order to mitigate the risk commercial contracts nearly always contain a contractual term known as an exemption clause. The purpose of exemption clauses is to attempt to exclude or restrict a party's liability to the other in the event of a breach of contract.

What coverage is insurance to protect against claims for bodily injury?

Bodily injury liability insurance: What it is and what it covers. If you cause a car accident that injures another person, bodily injury liability coverage helps pay for their medical expenses and lost income as a result of their injuries.

Which coverage protects the legal liability of the insured for claims for damaged baggage or cargo?

Cargo Liability: covers legal liability for loss or damage to cargo or baggage. Insurers against liability for damage to another's cargo which is distinguished from property insurance covering the insured's own cargo.

What is property and casualty coverage?

Property and casualty insurance is a broad insurance, which includes coverage to your structure, property and belongings in the event of vandalism, theft, and more.

How to find out someone's insurance policy limits?

What is the difference between bodily injury liability and medical payments?

Bodily injury liability coverage applies to injuries you or anyone insured under your policy becomes legally responsible for as a result of an accident. Medical payments coverage pays for reasonable medical expenses incurred by you or passengers in your vehicle regardless of who is at fault for the accident.

What is the maximum amount an employer's liability insurance policy would pay for the bodily injury of an employee in any one accident?

The standard limit, which can be increased, is $100,000 for any one accident. This is the aggregate limit the insurer will pay under coverage (B) for all claims sustaining bodily injury by disease during the policy period. The standard policy limit, which can be increased, is $500,000.

What does the insurance provided by a liability policy applies to?

In most cases, liability coverage is designed to cover you if you are held responsible for causing injury or property damage – whether someone is injured on your property or if you accidentally injure someone or damage their property.

Which of the following statements is true concerning part A liability coverage on a standard personal automobile policy?

Statement 1 is correct. Part A of the Personal Auto Policy (PAP) provides bodily injury and property damage liability protection to any insured who is legally responsible for an automobile accident.

What are your bodily injury limits progressive?

Bodily injury liability per person: $25,000 is the maximum amount your insurance company would pay out for injuries you're liable for, per person. Bodily injury liability per accident: $50,000 is the maximum amount your insurer would pay out for injuries you're liable for, per accident.

What is liability insurance protects you against?

Liability insurance is an insurance product that provides protection against claims resulting from injuries and damage to other people or property. Liability insurance policies cover any legal costs and payouts an insured party is responsible for if they are found legally liable.

Which coverage provides medical expenses for bodily injuries by accident irrespective of legal liability?

Medical Payments Coverage, or MedPay, is an optional supplement to car insurance policies, covering medical expenses resulting from an accident, irrespective of fault.

How do I claim baggage damage insurance?

For checked-in baggage loss, damage or theft immediately (within 24 hours) report to the airline or the carrier involved and submit a claim to them. In many instances they may be responsible for damage and/or loss. Please also obtain a loss/damage Baggage Report from the airline or carriers representative.

What type of insurance protects against illness and injury?

Disability Insurance: Protection When Illness or Injury Strikes.

Does health insurance cover bodily injury?

In California, health insurance typically covers medical expenses resulting from car accidents. This coverage extends to various aspects of your treatment, including hospitalization, surgeries, medications, rehabilitation, and follow-up care.

What is the difference between bodily injury and personal injury protection?

Personal injury protection (PIP) insurance coverage includes payment for medical and rehabilitation expenses, loss of income, and funeral and burial expenses. Bodily injury liability coverage includes payment for any physical injuries from an accident you cause.

What is the limit of liability terms?

What does Limitation of Liability mean? Limitation of liability means a contractual provision to reduce or exclude the types and amounts of liabilities one party may recover from another party relating to default or non-performance in connection with a contract.

What is unlimited liability for negligence?

Without an express exclusion or limitation of liability clause, the party that was in breach would have unlimited liability. This means that there would be no financial limit in the contract on what the other party might recover.

Can you limit liability for deliberate breach?

It is a matter of construction rather than law as to whether liability for deliberate acts will be excluded. Limitation clauses are not regarded by the courts with the same hostility as exclusion and indemnity clauses. A contracting party cannot exclude liability for its own fraud in inducing a contract.