What is meant by strict liability in insurance terms?

Strict liability in insurance terms refers to a legal doctrine where a party is held responsible for their actions or products, regardless of fault or negligence. This means that an individual or entity can be liable for damages even if they did not intend to cause harm or did not act negligently. It is often applied in cases involving inherently dangerous activities or defective products, where the law imposes liability to protect the public and ensure accountability.

In contrast to the other choices, liability imposed only in cases of negligence would suggest that a party must be proven to have acted carelessly or irresponsibly, which does not apply to strict liability scenarios. The assertion that liability can be waived by the insurer contradicts the fundamental concept of strict liability, as it underscores the unavoidable nature of accountability in these situations. Lastly, limiting strict liability solely to property damage is inaccurate, as it can also apply to personal injury cases and other forms of harm, making option B the most comprehensive and accurate definition of strict liability.