When you or your company is held financially liable for the activities of another group or person, this is known as vicarious liability. This is the legal structure that is most usually used when you are accused of mistakes committed by your contractors, employees, or agents.
What is Vicarious liability?
Vicarious liability means that you can be held legally responsible for another person’s crime, much as living vicariously through someone else involves taking joy in another person’s adventures. Because of the way certain legal relationships work, this is feasible.
Consider the following scenario: one of your […]
Single limit liabilities are the insurance policies that may have combined single limits. It states a single dollar limit that would apply to any combination of property damage liability, bodily limits as compared to split limits where separate dollar amount applicable to each accident that varies from per person, per occurrence of persons injured or property damage that is the result of an accident.
It is basically a provision of an insurance policy that would limit the coverage of all the elements of the insurance policy and claim it to be a single dollar amount. It has […]