Backdated Liability Insurance,
What is The Definition of Backdated Liability Insurance?
Coverage for claims that actually occur after a loss has occurred. This type of coverage is offered when the amount of the loss is very uncertain and there may be a long delay in payment. The premium is calculated by the insurance company along with the cost of your investment to cover the compensation claims. This is not the type of coverage commonly available.
Literal Meanings of Backdated Liability Insurance
Meanings of Backdated:
Put the date (document) before the actual date.
Sentences of Backdated
The sale documents were postponed to avoid court orders.
Meanings of Liability:
The person or thing whose presence or behavior causes embarrassment or harm.
Synonyms of Liability
responsibility, handicap, legal responsibility, encumbrance, nuisance, inconvenience, answerability, hindrance, burden, accountability
Meanings of Insurance:
An exercise or arrangement under which a company or government agency guarantees compensation for a particular loss, injury, illness or death in exchange for a premium.
Synonyms of Insurance
protection, shelter, financial protection, precaution, safety measure, surety, defence, indemnity, immunity, preventive measure, provision, cover, security, indemnification, safeguard