liability insurance

When an organization provides the public with a product or service that puts those who use the product or service at risk, these companies need insurance to cover the damages that may occur. This insurance policy is called Liability Insurance. The cost of this type of insurance has risen greatly. This rise is caused because of contingency fees. These fees account for cases where lawyers are paid only when the outcome is favorable. Cases of liability insurance are often unfavorable. Another reason for the rise, is the rise in liability claims nationwide. It is now more common for individuals to sue companies for damages incurred while using their product or service.

Fast Facts

Individuals are required to have car insurance to avoid claims against the car company's liability insurance.
For many services involving risk, liability waivers must be signed in which the signers admit knowledge of possible damages.

liability insurance - Financial Planners, Articles and Q&A

Search Results for "liability insurance"

Articles

Results 1-3 of 3 for "liability insurance"

Financial Planner

Do you know what the benefits of consulting a professional financial planner are?...
- Site: financialplannernetwork.com
Self Employment Business Tax Deductions

Self-employed individuals are required to report to the IRS the total amount of earnings (gross income) from t...
- Site: financialplannernetwork.com
Dual-Income Households

Money is the number one problem couples fight about. It's often the spark that ignites bickering about ambitio...
- Site: financialplannernetwork.com