third-party insurance

[thurd-pahr-tee]

noun

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

Other Word Forms

• third-party insurer noun

Word History and Origins

Origin of third-party insurance¹

First recorded in 1900–05

Example Sentences

It noted, however, that “renewal of our third-party insurance agreements should result in a mid-single-digit percentage increase in cost of insurance on a per-ride basis quarter over quarter.”

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They were using a motor vehicle without third-party insurance, failure to stop a vehicle when ordered to do so by a constable or traffic warden, and fraudulent use of a registration document.

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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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