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English definition of “third-party insurance”

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third-party insurance

noun [U] uk   /ˌθɜːdˌpɑː.ti.ɪnˈʃɔː.rəns/ us    /ˌθɝːdˌpɑːr.t̬i.ɪnˈʃɔːr.əns/
insurance that will pay money to a person or group damaged in some way by the person or group who has this insurance
(Definition of third-party insurance from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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