Aggregate Indemnity

Aggregate Indemnity

In the event a person or company has more than one insurance policy covering the same insured event, the total coverage both policies provide. See also: Aggregate limit.
References in periodicals archive ?
Under the retrocession agreement, the issuer will provide Flagstone Re with up to $64 million protection against North American hurricanes, North American earthquakes, Japanese earthquakes, Japanese typhoons, European windstorms and other worldwide natural catastrophe perils on an aggregate indemnity basis, and up to $40 million protection to cover the same perils excluding other worldwide peril loss events on a per occurrence indemnity basis over a three-year period.
Under each reinsurance agreement, the issuer provides the cedants with annual aggregate indemnity protection with a limit of up to the principal amount of the corresponding series of loans, when annual aggregate insured losses in the defined business portfolio during a three-year period beginning June 2007 meet or exceed specific attachment points.
Under the reinsurance agreement, the issuer will provide TIC with up to $500 million of aggregate indemnity protection over a three-year period beginning May 9, 2007, when losses covering personal property and commercial property caused by individual northeast hurricanes meet or exceed a specific reinsurance attachment point.
Under the reinsurance agreements, the issuer will provide the ceding insurer with up to $250 million of aggregate indemnity protection over a four year period beginning May 1, 2007, when losses covering residential property caused by individual northeast hurricanes meet or exceed a pre-established attachment point.
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