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Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
In contract law, indemnity is a contractual obligation of one party (indemnifier) to compensate the loss incurred to the other party due to the acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless". In contrast, a "guarantee" is an obligation of one party assuring the other party that guarantor will perform the promise of the third party if it defaults.
Business is the activity of making one's living or making money by producing or buying and selling products. It is also "any activity or enterprise entered into for profit."
Paintball is a competitive team shooting sport in which players eliminate opponents from play by hitting them with spherical dye-filled gelatin capsules called paintballs that break upon impact. Paintballs are usually shot using low-energy air weapons called paintball markers that are powered by compressed air or carbon dioxide and were originally designed for remotely marking trees and cattle.
Airsoft is a team game in which participants eliminate opposing players by tagging them out of play with spherical plastic projectiles shot with mock air weapons called airsoft guns.
A paralegal is a professional who performs tasks that require knowledge of legal concepts but not the full expertise of a lawyer. The market for paralegals is broad, including consultancies, companies that have legal departments or that perform legislation compliance activities in areas such as environment, labor, intellectual property and tax. Legal offices and public bodies also have many paralegals in support activities although they do not yet use the correct name of the profession.
Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence. The trade-off between assured, limited coverage and lack of recourse outside the worker compensation system is known as "the compensation bargain". One of the problems that the compensation bargain solved is the problem of employers becoming insolvent as a result of high damage awards. The system of collective liability was created to prevent that, and thus to ensure security of compensation to the workers.
Vehicle insurance is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. Vehicle insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects. The specific terms of vehicle insurance vary with legal regulations in each region.
In law, liable means "responsible or answerable in law; legally obligated". Legal liability concerns both civil law and criminal law and can arise from various areas of law, such as contracts, torts, taxes, or fines given by government agencies. The claimant is the one who seeks to establish, or prove, liability.
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure. Typical P&I cover includes: a carrier's third-party risks for damage caused to cargo during carriage; war risks; and risks of environmental damage such as oil spills and pollution. In the UK, both traditional underwriters and P&I clubs are subject to the Marine Insurance Act 1906.
A Marine Surveyor is a person who conducts inspections, surveys or examinations of marine vessels to assess, monitor and report on their condition and the products on them, as well as inspects damage caused to both vessels and cargo. Marine surveyors also inspect equipment intended for new or existing vessels to ensure compliance with various standards or specifications. Marine surveys typically include the structure, machinery and equipment and general condition of a vessel and/or cargo. It also includes judging materials on board and their condition. Because certifications and subsequently payments are processed only after the surveyor has expressed his or her satisfaction, a marine surveyor holds a prestigious position and is held with much regard in the shipbuilding industry. Marine Surveyors are highly qualified and technically sound and are usually selected after thorough evaluation procedures as vessels ranging from small ferries to enormous crude oil carriers and cruise liners are approved to sail into the high seas based purely on their judgment, competence and integrity.
An insurance broker is an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation. An insurance broker is distinct from an insurance agent in that a broker typically acts on behalf of a client by negotiating with multiple insurers, while an agent represents one or more specific insurers under a contract.
Airsoft is considered to be a modern shooting sport. Airsoft guns themselves are legal in many parts of the world, although some countries, states, and cities have specific restrictions against the items. For example, California State Law states that peoples of all ages can use these items, classing them as both tools and toys. Safety regulations in many areas require bright markings on the items. They are officially classed as "soft air devices" or "air compressed toys", depending on the location. For example in the case of Arkansas you must be 18+ to buy an air soft gun. A handful of countries, namely Australia, China, Malaysia and Singapore, have existing laws that are deemed to be airsoft-unfriendly.
A car rental, hire car or car hire agency is a company that rents automobiles for short periods of time to the public, generally ranging from a few hours to a few weeks. It is often organized with numerous local branches, and primarily located near airports or busy city areas and often complemented by a website allowing online reservations.
Public liability is part of the law of tort which focuses on civil wrongs. An applicant usually sues the respondent under common law based on negligence and/or damages. Claims are usually successful when it can be shown that the owner/occupier was responsible for an injury, therefore they breached their duty of care.
Construction law is a branch of law that deals with matters relating to building construction, engineering, and related fields. It is in essence an amalgam of contract law, commercial law, planning law, employment law and tort. Construction law covers a wide range of legal issues including contract, negligence, bonds and bonding, guarantees and sureties, liens and other security interests, tendering, construction claims, and related consultancy contracts. Construction law affects many participants in the construction industry, including financial institutions, surveyors, quantity surveyors, architects, builders, engineers, construction workers, and planners.
The International Accreditation Forum, Inc. (IAF) is the world association of Conformity Assessment Accreditation bodies and other bodies interested in conformity assessment in the fields of management systems, products, services, personnel and other similar programs of conformity assessment. Its primary function is to develop a single worldwide program of conformity assessment which reduces risk for business and its customers by assuring them that accredited certificates may be relied upon.
A voluntary group or union is a group of individuals who enter into an agreement, usually as volunteers, to form a body to accomplish a purpose. Common examples include trade associations, trade unions, learned societies, professional associations, and environmental groups.
Increases in the use of autonomous car technologies are causing incremental shifts in the responsibility of driving, with the primary motivation of reducing the frequency of traffic collisions. Liability for incidents involving self-driving cars is a developing area of law and policy that will determine who is liable when a car causes physical damage to persons or property. As autonomous cars shift the responsibility of driving from humans to autonomous car technology, there is a need for existing liability laws to evolve in order to reasonably identify the appropriate remedies for damage and injury. As higher levels of autonomy are commercially introduced, the insurance industry stands to see higher proportions of commercial and product liability lines, while personal automobile insurance shrinks.