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Difference-in-limits policy (DIL)

Term · Insurance and risk management · MLC-T-INS-001156

An insurance policy that provides additional coverage limits above a primary policy, specifically addressing situations where the primary policy's limits are insufficient. This type of policy is distinct from a standard excess policy because it only covers the difference between the primary policy's limit and a higher desired limit. It is often used to meet contractual requirements for higher liability limits without replacing the entire primary policy.

Table 1. Record
IdentifierMLC-T-INS-001156
FieldInsurance and risk management
AbbreviationDIL
Record as JSON 
{
  "id": "MLC-T-INS-001156",
  "term": "Difference-in-limits policy (DIL)",
  "field": "Insurance and risk management",
  "definition": "An insurance policy that provides additional coverage limits above a primary policy, specifically addressing situations where the primary policy's limits are insufficient. This type of policy is distinct from a standard excess policy because it only covers the difference between the primary policy's limit and a higher desired limit. It is often used to meet contractual requirements for higher liability limits without replacing the entire primary policy.",
  "abbreviation": "DIL",
  "url": "https://mlchart.com/terminology/insurance/difference-in-limits-policy-dil/"
}

Record 967 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.