Definition: Insurance for LLC refers to a type of contract between an individual or business entity and an insurance company that provides liability coverage for personal injury, property damage, medical expenses, and other damages incurred by members of their business. This means that if one member of the business is injured or suffers a loss due to the negligence of another, the insurance company will provide coverage under its own name. The term "insurance for LLC" typically refers to an individual's insurance policy that covers the liability of the LLC in case of any accidents or injuries sustained by members. The term "Insurance for LLC" is often used to refer to a type of insurance contract between an LLC and an insurer, rather than as a specific entity.
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