liability insurance
Defined in 1 place of the United States Code.
The term “liability insurance” means insurance for legal liabilities incurred by the insured resulting from—
(i) loss of or damage to property of others;
(ii) ensuing loss of income or extra expense incurred because of loss of or damage to property of others;
(iii) bodily injury (including) to persons other than the insured or its employees; or
(iv) loss resulting from debt or default of another.
Source
- 2002–present6 U.S.C. § 444Domestic Security · Definitions · for purposes of this part