Insurance which agrees to indemnify the insured for sums he may be required by law to pay to third parties as damages for bodily injury or damage to property.

This is a legally enforceable obligation. Liability insurance pays for the damages or losses suffered by others for which the insured person is legally responsible.

The person granting a lease.

The person to whom a lease is granted. A lessee of real property is commonly called the “tenant.”

Liability imposed by law on individuals or corporations to pay for harm done to others. Such law may be the common law, statute law or customs which over a period of time have taken on the same status as law.…

A form of insurance to cover types of legal expenses incurred by individuals; often written on a group basis.

A contract by which one party, called the lessor, conveys to another, called the lessee, real estate, equipment or facilities for a specified term and for a specified rent.

Liability incurred by reason of an error or omission committed by a lawyer, or by some person for whose acts he or she is responsible, in the practice of the profession.

An insurance policy which, having reached its expiry date, is not renewed or extended is said to have lapsed.