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third-party insurance
[ thurd-pahr-tee ]
noun
- insurance that compensates for a loss to a party other than the insured for which the insured is liable.
Other Words From
- third-party insurer noun
Word History and Origins
Origin of third-party insurance1
Example Sentences
Pharmacy technicians, who fill medicine prescriptions, process third-party insurance claims and help patients check out at the pharmacy, are not part of Wednesday's announcement, DeMoss said.
But in January CEO Elon Musk said premiums from third-party insurance companies "in some cases were unreasonably high."
Third-party insurance companies like Assurant, Asurion and Akko sell policies for smartphones, as do some general insurance providers like Progressive and USAA.
During Tesla's fourth-quarter earnings call on Wednesday, Musk said premiums from third-party insurance companies "in some cases were unreasonably high" and that the EV maker's insurance arm was putting pressure on those carriers by offering lower rates to Tesla owners.
They should have adequate third-party insurance, and a licence if it's required in your area.
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