- liability limit
-
the highest amount that a liability insurer will pay on a single claim.
* * *
Universalium. 2010.
liability limit
Look at other dictionaries:
liability limit — noun : the maximum amount which a liability insurance company agrees to pay as a result of a single accident or injury to a single person * * * the highest amount that a liability insurer will pay on a single claim … Useful english dictionary
Aggregate Product Liability Limit — The maximum sum of money that an insurance company will pay during the time interval that the product liability insurance coverage is in effect. The aggregate product liability limit remains unchanged no matter how many claims are made per period … Investment dictionary
liability — The word is a broad legal term. Mayfield v. First Nat. Bank of Chattanooga, Tenn., C.C.A.Tenn., 137 F.2d 1013, 1019. It has been referred to as of the most comprehensive significance, including almost every character of hazard or responsibility,… … Black's law dictionary
liability — The word is a broad legal term. Mayfield v. First Nat. Bank of Chattanooga, Tenn., C.C.A.Tenn., 137 F.2d 1013, 1019. It has been referred to as of the most comprehensive significance, including almost every character of hazard or responsibility,… … Black's law dictionary
Liability — A financial obligation, or the cash outlay that must be made at a specific time to satisfy the contractual terms of such an obligation. The New York Times Financial Glossary * * * liability li‧a‧bil‧i‧ty [ˌlaɪəˈbɪlti] noun liabilities PLURALFORM … Financial and business terms
liability — 1) In the broad legal sense, responsibility or obligation. For example, a person is liable to pay his debts, under the law; 2) In accounting, any debt owed by an individual or organization. Current, or short term, liabilities are those to be paid … Financial and business terms
liability insurance — insurance covering the insured against losses arising from injury or damage to another person or property. * * * Insurance against claims of loss or damage for which a policyholder might have to compensate another party. The policy covers losses… … Universalium
limit — See price limit, position limit, and variable limit. The CENTER ONLINE Futures Glossary See trading limit. Bloomberg Financial Dictionary A contract s maximum price advance or decline from the previous day s settlement price permitted in one… … Financial and business terms
limit — {{Roman}}I.{{/Roman}} noun ADJECTIVE ▪ outer ▪ northern, southern, etc. ▪ three mile, etc. ▪ city … Collocations dictionary
limit — limitable, adj. limitableness, n. /lim it/, n. 1. the final, utmost, or furthest boundary or point as to extent, amount, continuance, procedure, etc.: the limit of his experience; the limit of vision. 2. a boundary or bound, as of a country, area … Universalium
