THIRD-PARTY INSURANCE Definition & Meaning

third-party insurance

[ thurd-pahr-tee ]

Phonetic (Standard)IPA

noun

insurance that compensates for a loss to a party other than the insured for which the insured is liable.

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Other �y��vlog Forms

third-party insurer noun

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�y��vlog History and Origins

Origin of third-party insurance¹

First recorded in 1900–05

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Example Sentences

Examples have not been reviewed.

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.

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But in January CEO Elon Musk said premiums from third-party insurance companies "in some cases were unreasonably high."

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Third-party insurance companies like Assurant, Asurion and Akko sell policies for smartphones, as do some general insurance providers like Progressive and USAA.

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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.

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They should have adequate third-party insurance, and a licence if it's required in your area.

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