Definition: The term "d&o" stands for "both liability and property damage". The word "d&o insurance" refers to a type of policy that covers both your personal assets (personal property) and any liabilities you are responsible for, in case of damages or accidents caused by external causes, such as natural disasters or acts of terrorism. The term "od" is the abbreviation of "occupy", which means to occupy the premises or place. For example, if a car accident occurs on your property, it may be covered under d&o insurance because you have assumed the risk of damage caused by the accident and are responsible for the repairs and costs incurred. Similarly, an injury sustained while traveling in a vehicle would also be covered under d&o insurance as the insurer is responsible for paying any damages that result from your actions on the road. In summary, "d&o" refers to policies that protect you both personally and legally against all types of liability and property damage due to external causes, including natural disasters or acts of terrorism.
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