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Meet OLLE, the Occurrence Limit of Liability endorsement

Author SamanthaKimball , 8/28/2014

Undoubtedly, you’re familiar with many ways that insurers seek to limit their exposures to loss. But how well do you know OLLE?

Sometimes referred to as a Scheduled Limit of Liability Endorsement, an Occurrence Limit of Liability Endorsement (OLLE) has become commonplace on property insurance policies. The endorsement clarifies the amount of insurance that is available in any one occurrence for each location or for each subject of insurance (i.e. buildings, contents, inventory, business income, etc.). Oftentimes, in addition to defining their maximum loss potential, underwriters will impose this endorsement as a reaction to their perceived under-valuation of reported assets.


Marc Roberts / Foter / Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0)