Limit Of Liability

Views Updated: Dec 15, 2025

Key Facts

Abbreviation
LOL
Pronunciation
/ˈlɪmət əv ˌlaɪəˈbɪlɪti/
Category
Governmental
Related Field
NASA

Examples in Context

  1. Insured can select Limit of Liability and currency for coverage.
  2. This agreement shall not increase the Limit of Liability provided for elsewhere in this Policy.
  3. Our duty to settle or defend ends when our limit of liability for this coverage has been exhausted.
  4. Insurers often stipulate deductible amount, coinsurance clause and limit of liability in their contracts, so as to the directors and officers carry one part of the losses and costs.
  5. Specific details will be given in the main body which is divided into six chapters : The first chapter analyses the legal nature of duty of disclosure in marine insurance, and corrects it as an obligation within the limit of fault liability.

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