Liability insurance is a part of the general insurance system of risk transference. Originally, individuals or companies that faced a common peril, formed a group and created a self-help fund out of which to pay compensation should any member incur loss. The modern system relies on dedicated carriers to offer protection against specified perils in consideration of a premium. Liability insurance is designed to offer specific protection against third party claims, i.e., payment is not typically made to the insured, but rather to someone suffering loss who is not a party to the insurance contract. In general, damage caused intentionally and contractual liability are not covered under liability insurance policies. When a claim is made, the insurance carrier has the right to defend the insured. The legal costs of a defense are not affected by any policy limits, which is useful because they can be significant where long trials are held to determine either fault or the amount of damages.
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- Horace Mann - sells retirement annuities and insurance to educators.
- State Farm Insurance - [SPONSOR]
- offers a full line of auto, home, life, health, and business policies.
- Prudential Financial - [SPONSOR]
(NYSE:PRU)
- offers individual and group life insurance, employee benefits services, annuities, and a range of investment products and services.
- Allstate - (NYSE:ALL)
- offers personal financial services and insurance coverages to protect home, life, auto, and business.
- Hartford Financial Services Group, The - (NYSE:HIG)
- diversified insurance company which provides property, casualty, and life insurance.
- Nationwide - (NYSE:NFS)
- provides insurance and financial services including auto, fire, life, health, commercial insurance, administrative services, annuities, mutual funds, pensions, and long-term savings plans.
- CNA Financial Corporation - (NYSE:CNA)
- provides a range of insurance products and services for individuals and businesses.
- Travelers Property Casualty - provides auto, home, life, property, liability, and related insurance services to individuals and businesses through independent agents and brokers.
- Liberty Mutual Group - provides commercial insurance and risk services, personal insurance, individual life products, group products, financial services, and international services.
- Tokio Marine - provides property, casualty, life, and marine cargo insurance services.
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