MLchartDataset catalogue

Loss limit

Term · Insurance and risk management · MLC-T-INS-002072

The maximum amount an insurer will pay for a single loss or a series of losses arising from a single occurrence, as specified in the insurance policy. This limit can apply per occurrence, per person, or per policy period, depending on the coverage. Once the loss limit is reached, the insurer's obligation for that particular loss ceases, and the insured is responsible for any remaining costs.

Table 1. Record
IdentifierMLC-T-INS-002072
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002072",
  "term": "Loss limit",
  "field": "Insurance and risk management",
  "definition": "The maximum amount an insurer will pay for a single loss or a series of losses arising from a single occurrence, as specified in the insurance policy. This limit can apply per occurrence, per person, or per policy period, depending on the coverage. Once the loss limit is reached, the insurer's obligation for that particular loss ceases, and the insured is responsible for any remaining costs.",
  "url": "https://mlchart.com/terminology/insurance/loss-limit/"
}

Record 2,028 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.