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Which of the following is an adequate definition of liability insurance? Group of answer choices Liability insurance protects commercial firms against perils similar to home-owners'

Which of the following is an adequate definition of liability insurance?

Group of answer choices

Liability insurance protects commercial firms against perils similar to home-owners' multiple peril insurance.

Liability insurance protects commercial firms against perils similar to home-owners' multiple peril insurance and protects against liabilities relating to business operations of firms.

Liability insurance protects against theft or damage of commercial vehicles.

Liability insurance protects against liabilities relating to business operations of firms.

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