Glossary
Limit of liability
The maximum the policy pays — expressed per claim and in aggregate. Contracts specify the limits you must carry; your risk determines…
What is limit of liability?
The maximum the policy pays — expressed per claim and in aggregate. Contracts specify the limits you must carry; your risk determines the limits you should.
Why it matters
Your limit is the most the policy will ever pay. The right number comes from your contracts (what clients require), your exposure (what a worst-case error costs), and your assets. $1M per claim is the market standard; higher-stakes advisory work commonly carries $2M or more.