General Liability Insurance
Liability insurance protects the purchaser (the “insured”) from the risks of liabilities imposed by lawsuits and similar claims. In other words, it protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy.
Liability insurance is designed to offer specific protection against third party insurance 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 as well as contractual liability are not covered under liability insurance policies. When a claim is made, the insurance carrier has the duty (and right) to defend the insured. The legal costs of a defense normally do not affect policy limits unless the policy expressly states otherwise; this default rule is useful because defense costs tend to soar when cases go to trial.
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