Owner Operators Insurance Requirements Murdock, Florida

Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the “insured”) from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.

Originally, individual companies that faced a common peril formed a group and created a self-help fund out of which to pay compensation should any member incur loss (in other words, a mutual insurance arrangement). The modern system relies on dedicated carriers, usually for-profit, to offer protection against specified perils in consideration of a premium.

Liability insurance is designed to offer specific protection against third-party insurance claims, i.e., payment is not typically made to the insured, but rather to someone suffering loss who is not a party to the insurance contract. In general, damage caused intentionally as well as contractual liability are not covered under liability insurance policies. When a claim is made, the insurance carrier has the duty (and right) to defend the insured.

Port Charlotte is an unincorporated community and census-designated place (CDP) in Charlotte County, Florida, United States. The population was 54,392 at the 2010 census. It is part of the Punta Gorda, Florida Metropolitan Statistical Area.

Port Charlotte was named to Forbes’ list of “25 Best Places to Retire in 2015”, listed among the ten best places in the United States to retire for the year 2012 by U.S. News & World Report, and was ranked at #1 in CNNMoney.com’s 2009 list of 25 Best Places to Retire.