Specific loss limit

{
  "id": "MLC-T-INS-003134",
  "term": "Specific loss limit",
  "field": "Insurance and risk management",
  "definition": "A maximum amount an insurer will pay for any single loss event or for a particular type of loss under an insurance policy. This limit applies to individual claims, regardless of the overall policy aggregate limit. It is commonly found in property insurance, liability policies, and stop-loss insurance for self-funded health plans.",
  "url": "https://mlchart.com/terminology/insurance/specific-loss-limit/"
}