Blanket Limit

Blanket Limit

The maximum amount of money an insurance company will pay out in claims on all policies in a geographic area. That is, the limit on all policies that a company underwrites in a given area cannot exceed the blanket limit.
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1) Building & Personal Property Blanket Limit $1,111,677
Without enforcement, it will become the norm for the new lower blanket limit to be universally ignored.
In many cases, the BI coverage may be part of an even broader property blanket limit depending on the structure of the policy.
However, during the consultation process held earlier this year, 450 people living in the town announced their opposition to the plans, saying the blanket limit was unnecessary.
The report describes two options, with one recommending the introduction of limits only in places with a proven need, and the other recommending a blanket limit for all schools which meet the criteria.
This is not the situation in South Africa (SA), unfortunately, with the blanket limit of six stemming from the outdated and repealed Human Tissue Act No.
Lavangie emailed the insured a quote, but it was on a per-location limit rather than a blanket limit.
For example, under a commercial property policy with a $200 million blanket limit applicable to loss from all other causes, there may be a $100,000 sublimit on coverage for loss from flood, a $500,000 sublimit on loss from earthquake and a debris removal sublimit of 25 percent of the direct-damage loss amount.
The bank has put together a suite of products to cater to SME clients, notably sub-contractor finance, LPO finance, Blanket Limit finance, TASDEER (Pre- Shipment, Post-Shipment and Forfaiting finance) and factoring products.
As regards the 20mph blanket limit in Portsmouth claimed by Clr Stanfield to have led to a 7% decrease in accidents - well, the jury's still out.
Blanket Insurance Indicate the type of property to be blanketed and the blanket limit of insurance.
You might also explore with Doug the advantages of insuring the building and YBPP for a single blanket limit, but that's a topic for another column.