sum at risk

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 placed upon the insured property by the policy itself. Standard Marine Ins. Co. v Nome Beach Lighterage & Transp. Co. (CA9 Cal) 133 F 636.

Ballentine's law dictionary. . 1998.

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