This will be done even if the expenditure on cancer treatment exceeds the
annual aggregate limit of Dh150,000 provided in the EBP.
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.
Keeping with the same example above (a 7 year license agreement requiring $1 million
annual aggregate limit policy), what if Party B's business quadruples in the first two years of the agreement and they vastly expand their operations, substantially increasing Party A's potential exposure?
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.
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.
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.
