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From The Glossary »

Limits, Standard:

A term applied to bodily injury and property damage insurance. A policy written with standard limits restricts the liability of the insurer to a specified amount. line In treaty reinsurance a line is equal to a ceding company’s retention. The capacity of a surplus treaty is normally described in terms of the number of lines it contains. The term is also loosely used to describe: _ a class of business, and _ an underwriter’s interest in a risk ...
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