sublimit

sublimit

(ˈsʌbˌlɪmɪt)
n
a limit on a subcategory
References in periodicals archive ?
The sum insured under decennial liability is equal to the full contract value at comple- tion generally without any sublimit.
The bill includes certain consumer protection provisions such as rescission and emergency services sublimit provisions, and creates a new rate filing requirement for Citizens Property Insurance Corp., which (https://www.insurancejournal.com/news/southeast/2018/07/19/495520.htm) has filed rate increases for the last several years that it has largely blamed on AOB.
Currently, VEPCo's sublimit under the core facilities is an aggregate $1.5 billion.
If bitcoin was viewed as money, the insurer would apply a sublimit, and the policyholder's recovery would be only $200.
he subject of the sublimit public contract is the realization of the project "Reconstruction of water supply and sewerage in Moravsk street" in cadastral area.
While the $50,000 aggregate sublimit no longer applies to Connecticut members, the $25,000 per item limit still remains.
The new agreement consists of a USD 1.7 billion revolving credit facility, which includes a USD 750 million multicurrency borrowing sublimit, and term loan commitments totaling USD 1.3 billion.
The Foreign Currency sublimit under the Revolving Credit Facility is an amount equal to 60% of the aggregate revolving credit commitments.
The total amount of coverage available was $1 billion; however, there was a $250 million sublimit for losses caused by flood; a $50 million sublimit for property in Flood Zones A & V and no sublimit for named windstorms other than those occurring in Florida.
"This is a huge exposure that isn't covered anywhere, because the traditional P&C policy that Maersk has now has a cyber exclusion, and the cyber policy that Maersk has has a very strong sublimit on business interruption," Iram says.
As with every other policy, particularly in the realm of cyber insurance products, it is important to make sure that the coverage most likely to be triggered is not set to a sublimit that would fall short of what is needed in the event of a serious loss.