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English
New Course
Concept
Limit Of Liability
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
.
Relevant Fields:
Torts and Noncontractual Liabilities 67%
Insurance and Risk Sharing 33%
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