sum insured

sum insured
sum insured ˌsum inˈsured also ˌsum asˈsured noun [countable] INSURANCE
the maximum amount of money that an insurer will have to pay, according to an insurance contract:

• Their policy schedule shows a sum insured of £1,000.

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sum insured UK US noun [C] (plural sums insured) INSURANCE
a maximum amount that an insurance company will pay to someone who makes a claim: »

It is vital for homeowners to make sure that the sum insured reflects changing building costs.

Financial and business terms. 2012.

Look at other dictionaries:

  • sum insured — draudimo suma statusas Aprobuotas sritis perdraudimo veikla apibrėžtis Draudimo sutartyje nurodyta arba draudimo sutartyje nustatyta tvarka apskaičiuojama pinigų suma, kurios negali viršyti draudimo išmoka, išskyrus draudimo sutartyje nustatytus… …   Lithuanian dictionary (lietuvių žodynas)

  • sum insured — The maximum amount the insurers will pay in the event of a claim …   Big dictionary of business and management

  • reinstatement of the sum insured — The payment of an additional premium to return the sum insured to its full level, after a claim has reduced it. Insurance policies are, in effect, a promise to pay money if a particular event occurs. If a claim is paid, the insurance is reduced… …   Big dictionary of business and management

  • insured — The property or persons covered by an insurance policy. Bloomberg Financial Dictionary * * * ▪ I. insured in‧sured 1 [ɪnˈʆʊəd ǁ ˈʆʊrd] noun the insured INSURANCE used in insurance contracts to talk about the person, organization etc that is… …   Financial and business terms

  • sum — I /sʌm/ noun 1. a quantity of money ● A sum of money was stolen from the human resources office. ● He lost large sums on the Stock Exchange. ● She received the sum of £5000 in compensation. ♦ the sum insured the largest amount which an insurer… …   Dictionary of banking and finance

  • sum — ▪ I. sum sum 1 [sʌm] noun [countable] 1. an amount of money: • Large sums of money are spent on advertising campaigns. • The company was sold for a sum estimated at $2.3 billion. ˌcapital ˈsum 1 …   Financial and business terms

  • insured — Ordinarily, synonymous with assured. 29 Am J Rev ed Ins § 239. The person in whose favor a contract of insurance is operative and who is indemnified against, or is to receive a certain sum upon, the happening of a specified contingency or event.… …   Ballentine's law dictionary

  • insured sum of deposits and liabilities to investors — indėlių ir (ar) įsipareigojimų investuotojams draudimo suma statusas Aprobuotas sritis finansų rinka apibrėžtis Draudžiamo indėlio ar įsipareigojimų investuotojams suma, apskaičiuojama Lietuvos Respublikos indėlių ir įsipareigojimų investuotojams …   Lithuanian dictionary (lietuvių žodynas)

  • insured money market account — /ɪnˌʃυəd mʌni ˌmɑ:kɪt əˌkaυnt/ noun a high yield account, in which the investor has to deposit a certain minimum sum, which is insured by the provider against capital loss. Abbreviation IMMA …   Dictionary of banking and finance

  • sum at risk — The maximum amount of insurer s liability under a policy; in the case of a valued policy, the valuation placed upon the property by the policy itself. 29A Am J Rev ed Ins § 1586. A term used in marine insurance policies meaning the valuation… …   Ballentine's law dictionary