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OBLIGEE |
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The person or persons protected by a bond. |
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OCCURRENCE |
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A happening or event. A basis for coverage in liability policies much broader than the accident basis, which requires the injury or damage to be due to a specific accident. |
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O.L. & T. |
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Owners', landlords', and tenants' liability, which arises from the ownership, operation or maintenance of premises. |
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OWNERS AND CONTRACTORS PROTECTIVE LIABILITY INSURANCE |
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Insures the legal liability of contractors and other persons for the negligent acts of independent contractors engaged by them and also, in some cases, for their won negligent supervision of the work performed. |
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