Joint Underwriting Association (JUA)

A system used to provide insurance to individuals or businesses that fail to secure coverage in the voluntary market. Although only certain companies issue policies at one rate level and handle claims for those insured, all of the companies providing insurance in that state must bear the ultimate costs.

Liability limits

The sum or sums beyond which a liability insurance company does not protect the insured on a particular policy. The majority of policies covering liability for bodily injury have two limits: a limit of liability to any one person; and another limit, usually higher, for any single accident where more than one person is involved.