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liability limit

American  

noun

  1. the highest amount that a liability insurer will pay on a single claim.


Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Runaway yachts weren’t the problem the liability limit was meant to solve.

From Seattle Times • May 28, 2023

But this liability limit is also what makes debit cards work.

From Slate • Feb. 16, 2016

Following a different course, BP waived the $75 million liability limit imposed by the federal Oil Pollution Act and quickly paid claims of $396 million in the spring of 2010.

From BusinessWeek • Jun. 27, 2013

It also wanted to get BP to commit to paying an amount above and beyond the $75 million liability limit currently in federal law.

From Newsweek • Jun. 16, 2010

An ongoing question is whether BP will avail itself of a liability limit of $75 million in the Oil Pollution Act.

From New York Times • May 11, 2010