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Lia Lib Lic Lie Lif Lig Lik Lim Lin Liq Lis Lit Liv

Limits of Insurance

The greatest amount of insurance a policy will provide the amount beyond which the insurer is no longer required to pay. Line (of Insurance ): (i) Particular type of Insurance, such as the liability “line.” (ii) All types of Insurance written for a property owner, such as all lines for ABC Manufacturing. (iii) Amount of Insurance on a given property, such as a Rs. 10,00,000 line on XYZ manufacturing’s building. (iv) Gross line-total amount of Insurance accepted by an insure on individual risk, including the amount Reinsured. (v) Net Line: amount of coverage retained by the Ceding Insurer on an individual risk in a surplus Reinsurance treaty or the maximum amount of loss on a particular risk to which an Insurer will expose itself without Reinsurance.

LIMNET

Means the London Insurance Market Network, a computerised network. It merged under WISE (World Insurance E-Commerce) with two other leading electronic networks in 1999.

Line

UK: (1) individual class or type of insurance business; (2) in reinsurance, an amount equal to the ceding company’s retention (a proportional treaty may have a total capacity expressed as X lines of which a reinsurer’s share may be Y lines).
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UK: 1.The proportion of risk accepted by a (re)insurer. In reinsurance the cedant’s retention is a ‘line’ and the capacity of a surplus treaty is a multiple of the ‘line’. A £50,000 retention and a ten-line surplus treaty creates reinsurance capacity of £500,000 enabling a risk of £550,000 to be accepted. 2. The amount accepted by an underwriter when signing a slip is called the ‘written line. 3. Term describing a category of insurance as in ‘personal lines’, i.e. insurances by individuals in their private capacity (e.g. household, private car, etc.).
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A general term that can be used in various ways. This term can be used to refer to a specific kind of insurance; for example, the property insurance line. This term can also be used to group all the policies written for the same insured. Lastly, this can also mean the amount of coverage written for a certain property; for example, a $50,000 line of property insurance.
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A term used to describe a type or class or kind of insurance in relation to the line of insurance appearing in the annual statement (e.g., inland marine, auto liability, fidelity).
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REINSURANCE: Either the limit of insurance to be written which an insurer has set for itself on a class of risk (line limit), or the actual amount which it has accepted on a single risk or other unit. A class of type of insurance (fire, marine or casualty, among others), also known as Line of Business.
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The proportion of an insurance or reinsurance risk that is accepted by an underwriter or which an underwriter is willing to accept. When it refers to a line that is entered on a slip it is commonly expressed as a percentage of the limit of indemnity.

Line item

Medical service or other item listed as a line entry on an insurance claim form or other computer-generated document. Usual data are date of the service, procedural code, service fee amount, and so on.

Line item denial

Insurance carrier or fiscal intermediary’s refusal to pay one or more of the line items on an insurance claim due to a technical error or because of insurance policy benefit issues. Denied line items must be appealed by the provider except for emergency department visits in which the patient died during a procedure categorized as an inpatient procedure. In that situation, the claim is resubmitted as an inpatient claim.

Line item rejection

Insurance carrier or fiscal intermediary’s elimination of one or more of the line items on an insurance claim due to a technical error such as omission or erroneous information, or because it does not follow Medicare guidelines. In these situations the claim may be corrected and resubmitted by the provider, but they cannot be appealed.