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TeachMeFinance.com - explain Liability Insurance Liability Insurance The term 'Liability Insurance ' as it applies to the area of Medicare in the United States can be defined as ' Liability insurance is insurance that protects against claims for negligence or inappropriate action or inaction, which results in injury to someone or damage to property'. Previous 5 Terms: LGWV LHV LI Liability Liability Determination Next 5 Terms: liard libaniferous LIBOR Library libriform About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.