What does Liability Risk mean? Read on to discover the definition & meaning of the term Liability Risk - to help you better understand the language used in insurance policies.
A liability risk is a vulnerability that can cause a party to be held responsible for certain types of losses. Many businesses face various types of liability risk, the losses for which can be quite substantial. Liability coverage is, therefore, extremely important for companies.
We hope the you have a better understanding of the meaning of Liability Risk.