vicarious liability

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Contingent Liability

A liability that a company may have to pay, but only if a certain future event occurs. Usually, a contingent liability refers to the outcome of a lawsuit: that is, the company may have to pay a significant amount of money if it loses the lawsuit. Contingent liabilities are recorded under accounts payable; their existence may also affect the share price.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

vicarious liability

see TORT.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

vicarious liability

The legal principle that persons who are in a position to control the actions of another will be held liable for any injuries caused by that other person.Liability does not rely on proving there was improper training, instructions, control, or supervision. Rather, it is imposed merely because of the relationship between the parties.Respondeat superior is one type of vicarious liability. In real estate, the concept is most often encountered in claims against an employer (construction contractor, property manager, and sometimes even real estate brokers) for the discriminatory actions of an employee.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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* Part three provides other states insurance for workers compensation and employers liability coverage in states that are not listed for part one coverage.
Once it is determined that workers compensation coverage does not apply and employers liability coverage is triggered, attention should turn to the employers liability limits on the policy, coverage conditions and exclusions.
The employers liability insurance part of the policy contains nine clauses.
* Explain how employers liability insurance applies to bodily injury (BI)
Employers Liability Coverage Endorsement WC 00 03 03 B
Stop Gap Coverage--Provides employers liability coverage in monopolistic states when the state operated system provides only workers compensation coverage and does not offer employers liability insurance.
Longshore and Harbor Workers Compensation Act insurance may be provided by attaching endorsement WC 00 01 06 A to the standard workers compensation and employers liability insurance policy.
L&HWCA insurance may be provided by attaching endorsement WC 00 01 06 A to the standard workers compensation and employers liability insurance policy.
Part five of the workers compensation and employers liability policy deals with premium.
Critically important integrated innovations include commercial umbrella (combining automobile liability, employers liability and commercial general-liability with some marine and aircraft coverage), the commercial general-liability policy (combining premises, personal injury and products liability) and commercial package policies (combining a wide range of property and casualty coverages).

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