LIABILITY LIMITS

Posted on July 20, 2013July 20, 2013

The sum or sums beyond which an Insurance Company does not protect the Insured on a particular policy.

This entry was posted in . Bookmark the permalink.

Post navigation

← LIABILITY INSURANCE

LIABILITY (SPLIT LIMIT) →

EXTRAORDINARY SACRIFICE

In marine insurance, a term used in determining General Average. It is expenditure or sacrifice other than obligations under the contract of affreightment, incurred by the ship owner.