MLchartDataset catalogue

Limitation of risk

Term · Insurance and risk management · MLC-T-INS-003678

A contractual provision or legal principle that restricts the maximum amount of financial exposure an insurer or reinsurer has under a policy or treaty. This can be achieved through deductibles, policy limits, or exclusions for specific perils. For insurers, it protects solvency by preventing catastrophic losses from a single event or accumulation of claims.

Table 1. Record
IdentifierMLC-T-INS-003678
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-003678",
  "term": "Limitation of risk",
  "field": "Insurance and risk management",
  "definition": "A contractual provision or legal principle that restricts the maximum amount of financial exposure an insurer or reinsurer has under a policy or treaty. This can be achieved through deductibles, policy limits, or exclusions for specific perils. For insurers, it protects solvency by preventing catastrophic losses from a single event or accumulation of claims.",
  "url": "https://mlchart.com/terminology/insurance/limitation-of-risk/"
}

Record 1,946 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.