Aggregate Limit

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Aggregate Limit

The maximum amount that an insurance policy will provide over a given period of time or over the life of the policy. For example, if an insurance company has agreed to pay all of a person's medical bills up to $100,000 and the person incurs $135,000 in services, the policyholder must pay $35,000 out of pocket. Some supplemental insurance policies provide coverage over the aggregate limit. See also: Stop loss insurance.
References in periodicals archive ?
Our Agency represents and promotes the West Virginia Mutual Insurance Company (the Mutual) and understands that the Mutual's provision of a $250,000 annual aggregate limit for Network Security and Privacy Protection is very liberal in the industry; but we also recommend that our Mutual clients consider purchasing an additional $1,000,000 excess policy due to the following: (a) an exceptional cost availability created by the Mutual's underlying limit and (b) a broad form of coverage which matches the Mutual underlying coverage.
The program also provides errors and omissions liability coverage for failure to provide facilities, goods and services up to an annual aggregate limit of $25,000.
31, 1995 (subject to an annual aggregate limit of $17.
Best's view on key variables including loss ratios, interest rates and collateral adequacy levels; a review of the subject ceded business and applicable covered perils, occurrence limits and annual aggregate limit exposure; and a review of the structure and the legal documentation surrounding the structure.
If, for example, a policyholder has had five years of claims-made liability coverage with an annual aggregate limit of $1 million each fear and purchases an unlimited ERP without a new limit, that would be the same as buying a five-year occurrence liability policy with a $1 million aggregate for the entire fly-year term of coverage.
Unlike other warranted AVM services, FirstClose offers the lowest minimum FICO score requirement at 560, the highest LTV and loss limits available, no annual aggregate limit or deductible on coverage, and easy and efficient claims processing.
This amount is not subject to an annual aggregate limit.
5 million) and the elimination of the annual aggregate limit per insured.
The program calls for annual aggregate limits of $10 billion to $20 billion for companies engaged in offshore oil exploration and production.
By keeping them as part of overall D & O policies, your association runs the risk of exceeding your policies' annual aggregate limits and leaving itself short of coverage in other areas.
Modeling enables the "testing" of annual aggregate limits with probabilistic accumulations from occurrences in various parts of the globe within a single year.
On nonproportional business, we want annual aggregate limits to cap our exposure, and we're discussing a biological and chemical substances exclusion to cut out bioterrorism risks.

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