- Liability excess
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International financial encyclopaedia . 2014.
Liability excess
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excess insurance — Insurance which, by a provision in the policy, is relieved from contributing to other insurers of the same risk; such a policy renders the insurer liable only for the amount of loss or damage in excess of the coverage provided by another policy… … Ballentine's law dictionary
Liability — A financial obligation, or the cash outlay that must be made at a specific time to satisfy the contractual terms of such an obligation. The New York Times Financial Glossary * * * liability li‧a‧bil‧i‧ty [ˌlaɪəˈbɪlti] noun liabilities PLURALFORM … Financial and business terms
liability — 1) In the broad legal sense, responsibility or obligation. For example, a person is liable to pay his debts, under the law; 2) In accounting, any debt owed by an individual or organization. Current, or short term, liabilities are those to be paid … Financial and business terms
excess clause — An excess clause in insurance policy limits liability to the amount of loss in excess of the coverage provided by other insurance. Federal Kemper Ins. Co., Inc. v. Health Ins. Admin., Inc., 424 Mich. 537, 383 N.W.2d 590, 592. In insurance policy … Black's law dictionary
excess clause — An excess clause in insurance policy limits liability to the amount of loss in excess of the coverage provided by other insurance. Federal Kemper Ins. Co., Inc. v. Health Ins. Admin., Inc., 424 Mich. 537, 383 N.W.2d 590, 592. In insurance policy … Black's law dictionary
liability — Legal responsibility, either civil or criminal. The condition of being bound in law and justice to pay an indebtedness or discharge some obligation. Feil v Coeur D Alene, 23 Idaho 32, 129 P 643. The state or condition of a person after he has… … Ballentine's law dictionary
excess insurance — noun 1. : insurance in which the underwriter s liability does not arise until the loss exceeds a stated amount and then only on the excess above that amount 2. : insurance over and above that necessary to meet the requirements of a coinsurance… … Useful english dictionary
excess of privilege — A basis of liability for defamation, notwithstanding the subject matter of the communication lies within the field of privilege, where the statement goes beyond the duty or interest of the publisher or utterer, is irrevelant or extraneous to the… … Ballentine's law dictionary
excess reinsurance — noun : reinsurance by a company assuming liability on the risk only for that amount of insurance which is over and above a stated sum with the principle of contribution applying in payment of losses … Useful english dictionary
Strict liability — Tort law Part of the … Wikipedia
