Meaning of Term in Insurance

Liability insurance: Insurance that provides protection from claims arising from injuries or damage to other people or property. 

Life assurance: Insurance paid to named beneficiaries when the insured person dies; "in England they call life insurance life assurance". 

Malpractice insurance: Insurance purchased by physicians and hospitals to cover the cost of being sued for malpractice; "obstetricians have to pay high rates for malpractice insurance".