third-party insurance
Definition
Liability cover purchased by an insured (the first party) from an insurer (the second party) for protection against the claims of another (the third) party. The first party is responsible for its own damages or losses—whether caused by itself or the third party.
third-party insurance is in the General, Marine, & Life Insurance subject.
third-party insurance appears in the definitions of the following terms: bodily injury (BI) coverage, collision insurance, first-party insurance and automobile third party insurance
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