The maximum amount an insurance policy will pay in the event of a claim. Most accounts receivable insurance policies have three types of Limits of Liability: Policy Limit of Liability – the overall governing liability paid under a single policy. All other Limits of Liability are subject to this liability. Country Limit of Liability – the maximum liability paid for a given country under a policy. Buyer Limit of Liability – the maximum liability paid for a specific buyer approved under the policy.
According to the terms of a given policy, the most an insurer will pay for any one loss.
When an insured is covered by more than one policy for a loss, each insurer pays according to a predetermined formula.
the maximum amount (excluding legal costs) for which the company is liable under a policy.
The maximum amount an insurance company is willing to insure under a given form or contract on any particular risk; the maximum amount payable for a given loss, occurrence or aggregate limit.
the maximum amount of damages that the insurer is responsible for as specified in your policy.
The maximum amount of money a policy will pay in the event of a claim.
The maximum monetary sum payable under an insurance policy.
The maximum amount which a surety company will pay in case of loss. Sometimes called the bond penalty.
Although this term is virtually never used in conjunction with life insurance, in the context of life insurance it would mean the face amount (also called death benefit) of a life insurance policy.
The maximum amount, excluding legal defense costs, for which an insurance company is responsible for under a policy.
The maximum limit of liability (damages) that an insurance company assumes or is obligated to pay under the terms of any individual insurance contract.
The maximum amount that an insurer agrees to pay in the case of loss under policy contract.
The most an insurance company agrees to pay in the case of loss.
the maximum amount that an insurance company agrees to pay in case of loss.
The maximum amount, as stated in the policy, which an insurer is bound to pay in case of a loss. See also Liability Limits.
The maximum amount an insurer will pay for any one loss.
