Home > Glossary

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.

Related Products

User ID: Subscriber Status:Free