Total insured value provision

{
  "id": "MLC-T-INS-003346",
  "term": "Total insured value provision",
  "field": "Insurance and risk management",
  "definition": "A clause in an insurance policy, particularly in property or marine insurance, that specifies the maximum aggregate amount for which the insurer is liable across all covered properties or interests. This value represents the full worth of the assets declared by the policyholder and forms the basis for premium calculation. It sets the upper limit of recovery for all losses under the policy, regardless of individual claim amounts.",
  "subject": "Excess Umbrella",
  "url": "https://mlchart.com/terminology/insurance/total-insured-value-provision/"
}