Third Party Liability

Jargon Buster

December 9, 2019

Jargon Buster

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Third Party Liability

Third Party Liability is an insurance policy purchased for protection against the actions of a third party who are not party to the contract of insurance and are not employees of the insured.

It is purchased by the insured (the first party) from an insurance company (the second party) for protection against damage from the actions of another party (a third party).