In liability Insurance, maximum amount of coverage that an Insurer will pay for all losses during a specific period of time, usually the contract period, no matter how many separate accidents may occur.******The maximum amount an insurer will pay under a policy in any one policy period.******The maximum amount of coverage available to the insured during a certain period, regardless of the number of accidents during that period.
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Usually refers to Liability insurance and indicates the amount of coverage that the insured has under the contract for a specific period of time, usually the contract period, no matter how many separate accidents may occur.