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Main Insurance Terms accident

accident



unexpected, unforeseen event not under the control of the insured and resulting in a loss. The insured cannot purposefully cause the loss to happen- the loss must be due to pure chance according to the odds of the laws of probability. For example, under aPersonal Automobile Policy (PAP)if an accident occurs, the insured is covered for loss due to his/her negligent act or omissions resulting in bodily injury or property damage to another party.



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accident