What is the definition of liability? A. The amount a consumer must pay after an incident before the insurance company starts paying
B. The monthly amount paid for insurance
C. Intentionally destroying something in order to collect insurance
D. A responsibility to pay for or fix a problem
What is the definition of liability?
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The correct answer is D. A responsibility to pay for or fix a problem.
Liability refers to the legal responsibility one has to compensate for harm caused to another person or entity. This can include paying for damages or being responsible for rectifying a situation that has resulted in loss or injury. If you have more questions or need further assistance, feel free to ask!