limits of liability

limits of liability

Health insurance The maximum amount an insurer will pay out under the terms of a policy
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The association filed to raise limits of liability for both residential and commercial properties last year.
* Combined single limits of liability available for all coverage, including cyber theft, social engineering loss, ransomware and more
The Limits of Liability stated in the Declarations for Underinsured Motorist Coverage are for reference purposes only.
-The Convention also provides for reviewing the limits of liability of the air carriers every five years.
-- New York Governor Mario Cuomo vetoed a bill which would have increased the minimum limits of liability for operators of motor vehicles.
The supplementary payments are in addition to the policy's limits of liability.
In fact, the changes strike at the heart of AI coverage: they affect the validity of coverage under state law, limits of liability and scope of coverage available.
Additional insurance cover such as kidnap and ransom, hull and machinery and enhanced limits of liability are available, depending on the risk appetite of individual organisations.
(5) If, however, there were a series of consecutive but distinct policies issued to the insured over the course of the relationship with the insurer, then each policy was bound to its own language and its own terms and limits of liability. (6) Therefore, in a loss occurring, for example, over five separate policy periods, potentially five separate policies would be in play and the argument was open to an insured that each policy limit (depending on the loss during that policy period), would be answerable.
The product is structured to provide flexibility, including shared or separate limits of liability. Coverage can be written on a primary or excess basis and may also be written on surplus lines paper.