A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Lighting up

Phrase used in workers’ compensation cases that describes an aggravation of a preexisting or underlying condition. This occurrence causes a temporary or permanent increase in disability that may require new medical treatment or a change in the existing treatment.

Limit

MEDICAL,USA: 1. Maximum amount of insurance benefits payable under an insurance or managed care contract. 2. Restriction or denial of insurance coverage to certain age groups.
***
expressed either on a per occurrence basis (e.g., per accident or event) or on an aggregate basis (e.g., all losses under a single policy, or for all policies during an underwriting period).
***
Maximum amount a policy will pay either overall or under a particular coverage.
**
Maximum amount for which an Insurer may be liable for any loss, as set forth in the Policy.

Limit of indemnity

Another term for policy limit. It refers to the maximum amount payable under a policy of insurance or reinsurance, either overall or with reference to a particular section of a policy.
***
The maximum sum payable under a contract of indemnity. It may be expressed as “per accident”, “per event”, “per occurrence,” or “per annum.”

Limit of indemnity/liability

The maximum sum an insured may collect, or for which an insured is protected, under the policy. It is a ‘sum insured’ under property insurances but a ‘limit of indemnity’ under liability policies. The liability limit may be: per policy, per event, per occurrence, per year, per ‘originating cause’ or, by way of sub-limit, per specified type of loss. See COSTS INCLUSIVE INDEMNITY; COMBINED SINGLE LIMIT.