Separate Limits Clause Samples
The Separate Limits clause establishes distinct financial limits or caps for different categories of coverage or claims within a contract or insurance policy. For example, it may set one maximum payout for property damage and a separate, unrelated maximum for bodily injury, ensuring that claims in one category do not reduce the available coverage in another. This clause's core function is to allocate risk more precisely and prevent the exhaustion of total coverage by a single type of claim, thereby offering clearer protection for both parties.
Separate Limits. If the Insured elects Separate Limits then the Policy’s:
(a) Third and First Party Aggregate Limit, as stated in Item 7. on the Declarations page, is the Insurer’s maximum liability for all damages, claim expenses, regulatory damages, loss of business income, extra expense, data recovery expenses, cyber-extortion expenses and claim avoidance costs for all Third Party Liability Coverages and First Party Coverages, regardless of the number of Insureds, claims, first party incidents, or individuals or entities making claims. If a sublimit with respect to an Insuring Agreement is stated in Item 7. on the Declarations page, then such sublimit will be the Insurer’s maximum liability for loss with respect to such Insuring Agreement. Upon exhaustion of such sublimit, the Insurer will not be liable to pay any further loss with respect to the coverage provided by the subject Insuring Agreement. Each sublimit will be part of, and not in addition to, the Policy’s Third Party Liability and First Party Aggregate Limit of Liability and will in no way serve to increase or supplement such limit of liability. All payments made under a sublimit will reduce such limit of liability.
(b) Data Breach Response and Crisis Management Aggregate Limit of Liability Data Breach Response and Crisis Management Aggregate Limit, as stated in Item 7. on the Declarations page, is the Insurer’s maximum liability for all data breach response and crisis management costs for Data Breach Response and Crisis Management Coverage regardless of the number of data breaches.
Separate Limits. The Insurer is liable only for that portion of damages, claim expenses, regulatory damages, extra expenses, data recovery expenses and cyber-extortion expenses that is in excess of the applicable Insuring Agreement’s retention amount, as stated in Item 3. on the Declarations page. If more than a single retention applies to a claim and/or first party incident, then the Insured is responsible for paying the highest applicable retention. The retention will be borne entirely by the Insured alone and not by the Insurer. With respect to insuring agreement I.C. Data Breach Response and Crisis Management Coverage a separate retention will apply and the Insurer is liable only for that portion of any data breach response and crisis management costs directly resulting from a data breach or cyber security breach.
(a) Business Interruption and Extra Expenses, the Insurer is liable only for loss of business income in excess of the waiting period.
Separate Limits. We will give you a credit limit for your Account. We also may give you different limits for different types of transactions. For example, we may tell you that you can only use part of your credit limit for Cash Advances.
Separate Limits. We are liable only for that portion of covered damages, claim expenses, regulatory damages, extra expenses, data recovery expense , and cyber-extortion expenses, that is in excess of the applicable Insuring Agreement's deductible amount. If more than a single deductible applies to a claim and/or first party incident, then you are responsible for paying the highest applicable deductible. The deductible will be borne entirely by you alone and not by us.