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Legal liability covers the legal compensation that might have to be paid if a third party files any case against the driver for damage, loss, or fire. The driver is covered for a sum equal to his salary for the policy period. It also covers accidents and occupational diseases.

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Q: What does the Legal Liability cover for a paid driver?
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Are there insurance companies that offer non driver insurance?

Yes, they do offer. The part where owner's legal liability is not charged where owner is not a driver, can be replaced with paid driver cover and un-named passengers cover as a matter of abundant caution if someone else should drive.


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If an accrued liability is not recorded, then it is not a liability on the balance sheet. Not sure if the employee's could sue - that's a legal question - but if it was paid at a later date then it would be an expense at the time the liability was paid. If you mean to ask - what happens if an accrued liability for salaries is not paid, or is not timely paid - then the IRS can deny the deduction.


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Joint liability means that at least two parties share liability in a lawsuit or legal dispute. Often, a jury decides what percentage of liability each defendant is responsible for. An example - An automobile is rear ended by a furniture delivery truck. The driver of the auto is injured and sues the furniture store AND the driver separately. A jury might find that more fault belonged to the driver since the truck was in good working condition. Therefore, this jury might decide that $100,000.00 should be awarded. They might decide that $80,000 of the damages are to be paid by the driver of the truck and $20,000 to the furniture store.


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As owners equity is likely to be paid back only at the closure of business entity, this is considered as special liability, the special being " liability to be paid at the end".


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