Rolling policy limits

Term · Insurance and risk management · MLC-T-INS-003001

A multiyear policy arrangement in which the limit stated at inception serves as a single aggregate for the whole multiyear term, rather than a fresh aggregate each year, while the premium is adjusted at each annual anniversary. Losses paid in any year erode the same limit, so less remains for later years. It differs from a standard annual policy, whose aggregate resets at each renewal.

Table 1. Record
Identifier	MLC-T-INS-003001
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-003001",
  "term": "Rolling policy limits",
  "field": "Insurance and risk management",
  "definition": "A multiyear policy arrangement in which the limit stated at inception serves as a single aggregate for the whole multiyear term, rather than a fresh aggregate each year, while the premium is adjusted at each annual anniversary. Losses paid in any year erode the same limit, so less remains for later years. It differs from a standard annual policy, whose aggregate resets at each renewal.",
  "url": "https://mlchart.com/terminology/insurance/rolling-policy-limits/"
}

Record 3,045 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.