V

VOLUME OF INSURANCE COVERAGE – list of concrete events (for example, theft, fire, earthquake, etc.) stipulated by the law or insurance agreement, upon occurrence of which an insurer accomplishes payment to an insured at the expense of insurance fund.

VOLUME OF INSURANCE LIABILITY – maximal amount, which can be paid by an insurer to an insured for loss indemnity resulting from insured event, occurrence, incident. Generally applied in insurance agreements where sum insured is not indicated (liability insurance).