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“Landlord Household Insurance” – household insurance that includes in addition to the usual standard household events, the option to insure against theft or accidental damage by tenants as well as offering cover for other specific risks which a landlord might be exposed to when letting.
“Landlord Legal Expenses Insurance” – legal expenses insurance that is designed for landlords to help meet the legal costs that might arise in the event of disputes with tenants
“Landlord Rent and Legal Protection Insurance” – insurance for landlords which in addition to providing landlord specific legal expenses cover also includes rental protection cover to help ensure continuity of rental payments in the event of tenant default.
“Legal expenses insurance” - insurance for individuals, families and businesses to enable them to meet the cost of defending or pursuing certain civil actions - cover is also available for defending prosecutions and an allowance is made for attendance expenses in connection with court hearings or similar proceedings.
“Liability” - Legal liability for injury, property damage or financial loss caused to others
“Liability insurance” - insurance against the legal obligation to pay compensation and costs to third parties and employees for loss, injury or damage - liability may arise through negligence; strict liability; breach of statutory duty; breach of contract.
“Limit of indemnity/liability” - the maximum sum an insured may collect, or for which an insured is protected, under the policy. The liability limit may be: per policy, per event, per occurrence, per year, per ‘originating cause’ or, by way of sub-limit, per specified type of loss.
“Loading” - an increased charge made as an underwriting measure in respect of a higher normal risk.
“Loss adjuster” - an independent claims expert engaged by an insurer to investigate claims and assess the true extent and value of any loss - Loss adjusters are not usually engaged for smaller, routine losses.
“Loss assessor” - a person with specialist knowledge, appointed by the insured to assess his claim and negotiate a settlement with the insurer or insurer’s representative, e.g. loss adjuster