What is the name of the provision that limits the insurer's liability to a portion of the loss based on the insurance covering the property?

The correct answer is Pro Rata. This provision refers to the way that an insurer’s liability is determined in relation to the total coverage available for the property. With a Pro Rata provision, the insurer is responsible for a portion of the loss based on the ratio of the amount of insurance in force to the total value of the insured property.

For instance, if a property is insured for $100,000 and has a total value of $200,000, the insurer would only be liable for 50% of the loss due to the Pro Rata formula. This approach ensures that the insured does not receive more than the value of their loss and aligns the payout with the coverage actually in place.

The other options, while they pertain to different aspects of insurance, do not specifically represent this proportional approach to loss liability.