Definition: Third-Party Liability - Examples & Advice | Bolder Money

Accident Liability Accident Liability

Actuarial Analysis Actuarial Analysis

Actuarial Reserve Actuarial Reserve

Adverse Selection Adverse Selection

Aggregate Limit Aggregate Limit

Asset Protection Plan Asset Protection Plan

Auto Insurance Auto Insurance

Benefit Cap Benefit Cap

Benefit Coordination Benefit Coordination

Benefit Review Benefit Review

Brokerage Commission Brokerage Commission

Car Insurance Premium Car Insurance Premium

Claims Adjuster Claims Adjuster

Claims Frequency Claims Frequency

Claims History Claims History

Claims Process Claims Process

Claims Reserve Claims Reserve

Claims Settlement Claims Settlement

Claims Severity Claims Severity

Co-insurance Co-insurance

Contingency Fund Contingency Fund

Cost Sharing Cost Sharing

Coverage Gap Coverage Gap

Coverage Review Coverage Review

Coverage Verification Coverage Verification

Credit Shield Credit Shield

Cyber Risk Insurance Cyber Risk Insurance

Cybersecurity Protection Plan Cybersecurity Protection Plan

Data Breach Response Fund Data Breach Response Fund

Debt Protection Plan Debt Protection Plan

Deductible Deductible

Deductible Waiver Deductible Waiver

Directors & Officers Liability Directors & Officers Liability

Emergency Savings Fund Emergency Savings Fund

Employment Practices Liability Employment Practices Liability

Exclusion Clause Exclusion Clause

Exposure Limit Exposure Limit

Extended Warranty Extended Warranty

Financial Product Disclosure Financial Product Disclosure

Financial Protection Plan Financial Protection Plan

Financial Protection Strategy Financial Protection Strategy

Group Insurance Plan Group Insurance Plan

Identity Protection Plan Identity Protection Plan

Identity Theft Identity Theft

Income Protection Fund Income Protection Fund

Indemnity Clause Indemnity Clause

Insurable Interest Insurable Interest

Insurance Audit Insurance Audit

Insurance Broker Fee Insurance Broker Fee

Insurance Covenant Insurance Covenant

Insurance Deductible Insurance Deductible

Insurance Pricing Model Insurance Pricing Model

Insurance Regulation Insurance Regulation

Insurance Regulatory Fee Insurance Regulatory Fee

Insurance Reinstatement Insurance Reinstatement

Insurance Score Insurance Score

Insurance Underwriting Insurance Underwriting

Insured Event Insured Event

Insured Loss Insured Loss

Insurer Solvency Insurer Solvency

Lapse of Coverage Lapse of Coverage

Legal Expense Coverage Legal Expense Coverage

Liability Cap Liability Cap

Loan Protection Insurance Loan Protection Insurance

Loss Adjustment Loss Adjustment

Loss Experience Loss Experience

Loss Mitigation Loss Mitigation

Loss Prevention Loss Prevention

Loss Ratio Loss Ratio

Mandatory Insurance Mandatory Insurance

No-Claim Bonus No-Claim Bonus

Optional Insurance Optional Insurance

Per Occurrence Limit Per Occurrence Limit

Policy Cancellation Fee Policy Cancellation Fee

Policy Endorsement Policy Endorsement

Policy Exclusion Policy Exclusion

Policy Limit Policy Limit

Policy Premium Policy Premium

Policy Renewal Policy Renewal

Policy Rider Policy Rider

Policy Settlement Policy Settlement

Policy Upgrade Policy Upgrade

Policyholder Dividend Policyholder Dividend

Political Risk Insurance Political Risk Insurance

Pre-Existing Condition Exclusion Pre-Existing Condition Exclusion

Premium Adjustment Premium Adjustment

Premium Financing Premium Financing

Premium Loading Premium Loading

Premium Refund Premium Refund

Premium Waiver Premium Waiver

Product Liability Insurance Product Liability Insurance

Property Liability Property Liability

Protection Fund Protection Fund

Rate Increase Notice Rate Increase Notice

Reinsurance Reinsurance

Renewal Clause Renewal Clause

Risk Analysis Risk Analysis

Risk Exposure Risk Exposure

Risk Grading Risk Grading

Risk Mitigation Strategy Risk Mitigation Strategy

Definition

Covers damages or injuries you cause to someone else. It protects you from financial loss when you’re held responsible for others’ expenses.

What to consider

Compare fees across brokers.
Understand how the fee is structured.
Assess whether the broker adds value to your decision-making.

Real world scenarios

A financial advisor disclosed an insurance broker fee when arranging a new policy for a client.
A small business owner noticed a broker fee included in the cost of a group plan.
An individual compared broker fees when selecting between different insurance options.

Related terms

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