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Concept
Limit Of Liability
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Summary
The
Limit Of Liability
is the
Maximum amount
an insurer will pay for a
Covered loss
under an
Insurance Policy
. It establishes the
Financial boundary
of the
Insurer's responsibility
, protecting both the insurer from
Excessive claims
and the insured from
Inadequate coverage
.
Concepts
Insurance Policy
Coverage Limit
Aggregate Limit
Per Occurrence Limit
Deductible
Exclusions
Premium
Risk Management
Underwriting
Claims Adjustment
Coverage Amount
Relevant Degrees
Torts and Noncontractual Liabilities 67%
Insurance and Risk Sharing 33%
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