Cumulative Liability


Definition of "Cumulative liability"

Sherry Pattinson real estate agent
Sherry Pattinson Better Homes and Gardens Real Estate Universal

Reinsurance: total of the limits of liability of all reinsurance policies that a reinsurer has outstanding on a single risk. The total of all such limits includes all ceding contracts from all insurers representing all lines of coverage for the single risk. Liability insurance: total of the limits of liability of all policies that an insurer has outstanding on a single risk. Examples are the homeowners INSURANCE POLICY, PERSONAL AUTOMOBILE POLICY (PAP), and personal umbrella liability policy.

Have a question or comment?
We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 
 

 

Popular Insurance Terms

Popular Insurance Questions