Cap

Term · Insurance and risk management · MLC-T-INS-000666

A contractual limit on the maximum amount an insurer will pay for a covered loss or a series of losses within a specified period. This limit can apply per occurrence, per policy period, or to specific types of coverage. For instance, a liability policy might have a cap of $1 million for any single claim.

Table 1. Record
Identifier	MLC-T-INS-000666
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-000666",
  "term": "Cap",
  "field": "Insurance and risk management",
  "definition": "A contractual limit on the maximum amount an insurer will pay for a covered loss or a series of losses within a specified period. This limit can apply per occurrence, per policy period, or to specific types of coverage. For instance, a liability policy might have a cap of $1 million for any single claim.",
  "url": "https://mlchart.com/terminology/insurance/cap/"
}

Record 434 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.