Is the maximum amount that an insurance company will indemnify to someone who files a claim?

Is the maximum amount that an insurance company will indemnify to someone who files a claim?

3.18 Maximum Liability The maximum amount of indemnification payable by the Company during a policy period and is a multiple of the premium paid under the policy. The amount of any recoveries received by the insured or the Company up to the date of drawing up of the loss account.