When a situation comes up that you need a large amount of money, such as when you get in an accident and need money to litigate, then having liability insurance is a sure way to address the need to advance. Often, this type of insurance is part of a primary insurance that covers an insured as health insurance or even as part of an employment contract.
liability insurance is a clause in most insurance package that provides the holder of the policy are covered for liability insurance for a flat fee. This tax can be collected or can be applied directly to the costs incurred in a situation related to what has been secured.
For example, in an employment contract the company may cover liability insurance in the unlikely event that it fails with the promise to pay the employee what he had in terms of compensation and separation. In this way the worker is protected in terms of salary, at least, while trying to help him through more work.
Some companies will include this type of insurance in the employment contracts of its executives and managers. Thus, if the company fails in any way, the government may still be able to pick up particular compensation and certain benefits that will allow him to maintain a particular level of living for a while '.
Another example is the case of practicing professionals such as doctors and those who deal with people and their treatment. liability insurance will cover part or in full, the amount involved, if a lawsuit is filed malpractice and litigation costs and attorneys fees incurred.
Having this liability insurance allows the hospital to continue functioning and the doctor to continue practicing without having to think about the financial burdens necessary to take care of the costs of the suit. Malpractice can be submitted only by patients who feel they have not been properly diagnosed or treated by medical doctors.
Most liability insurance covers only short-term situations, such as litigation or temporary compensation due to temporary disability. Apart from that, liability insurance typically does stand 't alone and is in addition to primary insurance policies that they want to cover circumstances that may arise in part what the policy covers already.