What Does Losses In Excess of Policy Limits Mean?

Free Business Insurance Quote Click Here
What does Losses In Excess of Policy Limits mean? Read on to discover the definition & meaning of the term Losses In Excess of Policy Limits - to help you better understand the language used in insurance policies.

Losses In Excess of Policy Limits

Losses In Excess of Policy Limits

This is an expression used in reinsurance agreements that refers to damages awarded by a court against an insurer in favor of the insured, due to the insurer's having failed to settle a third-party claim against the insured within the policy limits by reason of bad faith, fraud, or gross negligence.

We hope the you have a better understanding of the meaning of Losses In Excess of Policy Limits.

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


Free Business Insurance Quote Click Here