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What is liability insurance? | Zalma about insurance



See the full video at https://rumble.com/zalma and at https://youtu.be/GOsR9SNLwJo

Insurance, by definition, is a contract where the insurer agrees for consideration (premium) to compensate another for a possible or unknown risk of loss. It is used as a method of spreading losses among many people who are insured with the same company. The insurer promises through its insurance, in exchange for a premium, to pay to defend and compensate the insured, if a certain type of loss occurs within a certain period of time called the "insurance period". By spreading the risk of loss among many, each individual pays only a small part of the risk of loss insured against.

Liability insurance is limited to insurance against the risk of losses that may occur to one person for injuries caused to person or property by another for an unintentional or random cause.

In exchange for the promise to pay the premium, the insurance company agrees to provide the insured with protection against various risks that an owner, developer or builder of real estate faces. The risks of loss that the insurer takes are listed in the insurance. For each promise from the insurer, a premium is charged.

Purchasing CGL insurance

When buying insurance with an insured person, it is imperative to purchase the necessary insurance cover. Seek advice and help from insurance brokers and agents with whom insurance is sought, at least three months before the start date of the insurance needed. Whether the insurance is a new insurance or a renewal, the agents and brokers will need enough time to trade the available insurance market. Anyone seeking insurance should not rely on the broker to simply renew the previous insurance for the same price with the same insurer. Available coverage and prices vary greatly each year. Insurance companies will enter and leave the market for the construction industry every year. The prudent insured will act wisely and diligently every year.

The prudent person seeking insurance will provide the broker with a list of necessary coverages, the status of the insurer with whom the broker will trade
( eg, a Best Rating A or better and recognized to do business in your state or an approved surplus insurer). The prudent person will make the agent or broker avoid unapproved and unapproved insurers if possible and realize that the market for surplus lines is the last resort.

]] He also acts as an arbitrator or mediator for insurance-related disputes. He practiced law in California for more than 44 years as an insurance and claims management attorney and more than 54 years in the insurance industry.

He is available at http://www.zalma.com and zalma@zalma.com. Mr. Zalma is the first recipient of the first annual Claims Magazine / ACE Legend Award. For the past 53 years, Barry Zalma has devoted his life to insurance, insurance claims and the need to defeat insurance fraud. He has created the following library of books and other materials to enable insurance companies and their indemnity staff to become insured.

Go to the podcast Zalma On Insurance at https://anchor.fm/barry-zalma; Follow Mr. Zalma on Twitter at https://twitter.com/bzalma ; Go to Barry Zalma videos on Rumble.com at https://rumble.com/c/c-262921; Go to Barry Zalma on YouTube- https://www.youtube.com/channel/UCysiZklEtxZsSF9DfC0Expg; Go to the insurance claims library-https: //zalma.com/blog/insurance-claims- library / Read posts from Barry Zalma at https://parler.com/profile / Zalma / posts; and the last two issues of ZIFL at https://zalma.com/zalmas-insurance-fraud-letter-2/ podcast now available at https://podcasts.apple.com/us/podcast/zalma-on -insurance / id1509583809? uo = 4


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