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 ?
Central bank head, Elman Rustamov, said that the nation is planning to remove insurance limits on bank deposits.
NBTY Inc., Ronkonkoma, NY, following in the footsteps of Whole Foods Markets and Walgreens, has begun enforcing higher liability and other insurance limits. The new requirements rolled out in December 2012, and NBTY may make modifications to make them more practical, especially for smaller suppliers.
"Customers of banks would not have gotten hooked on the opium of higher deposit insurance limits, and banks would not bear the burden of permanently higher deposit insurance costs," Isaac says.
Most contracting parties include "minimum" insurance limits that must be carried while the contract remains in effect.
"Normally they're looking for insurance limits of around $1 million in coverage, while some are looking for higher limits," said Treend.
The Brownyard Group of Bay Shore, New York, has expanded its Brownguard program for security guard firms to include insurance limits of up to $5 million.
But, one of the critical issues underlying this question is the risk of diluting your camp's liability insurance limits when many organizations are included as Additional Insureds.
finds that companies reduced their liability insurance limits by an average of 6 percent in 2002.
Firms who faced large losses because of a liability claim were more likely than others to have increased their liability insurance limits in 1999, according to a study of 2,181 companies done by Marsh Inc., one of the world's largest insurance brokerages and risk advisers.
For such reasons, the Board has concluded that, should the Congress decide to lower deposit insurance limits, a meaningful transition period would be needed.
Global Banking News-January 20, 2016--American International Group enhances global commercial property insurance limits
Insurance limits for personal property, including valuables such as jewelry and free art, also are frequently inadequate.

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