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third-party insurance

[thurd-pahr-tee]
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noun
  1. insurance that compensates for a loss to a party other than the insured for which the insured is liable.
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Origin of third-party insurance

First recorded in 1900–05
Related formsthird-party insurer, noun
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018