'Limit of Indemnity'

The Limit of Indemnity (LOI) is the maximum amount the insurer will pay under a policy during the policy period.

Legal costs may be included within the LOI or may be covered as an additional amount, depending on the policy purchased.

The policy may cover an aggregate sum up to the limit purchased, or it may be an 'any one claim' basis covering multiple claims each up to the limit purchased.

Read more in our Guidance Note.