Threshold

{
  "id": "MLC-T-INS-003329",
  "term": "Threshold",
  "field": "Insurance and risk management",
  "definition": "A predetermined level or point that, when reached or exceeded, triggers a specific action, consequence, or change in status. In insurance, it can refer to a minimum amount of damage required for coverage to apply, or a severity level of injury that allows for certain legal actions. For instance, some auto insurance policies have a tort threshold for bodily injury claims.",
  "url": "https://mlchart.com/terminology/insurance/threshold/"
}