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 ?
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.
Under the reinsurance agreement, the issuer provides the cedant with an initial 24% quota share reinsurance for its non-proportional property catastrophe and risk excess of loss reinsurance business, subject to specified occurrence and annual aggregate limits over a two-year period beginning January 1, 2007.
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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