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Aug 11, 2022 · A general aggregate in insurance refers to the maximum amount an insurer will pay out in the duration of a given policy term. Learn why it’s important to understand your general aggregate limit and the important details of a general aggregate in insurance, brought to you by The Hartford.
Aug 16, 2023 · The general aggregate limit of liability refers to the most money an insurer can pay to a policyholder during a specified period. These limits are contained in the...
Jul 24, 2023 · The aggregate insurance definition is the highest amount of money the insurer will pay for all of your losses during a policy period—this period typically lasts for one year. On certain types of insurance coverage, an aggregate limit is put in place.
The general aggregate is the maximum amount of money a liability insurance policy will pay in a given policy term. Unlike a per-occurrence limit, which limits the amount per claim, a general aggregate limit can be exhausted through either two claims, fifty claims, or anywhere in between.
Mar 18, 2024 · Aggregate limits in insurance are the maximum amounts an insurer will reimburse a policyholder for covered losses during a specific time period. They play a crucial role in insurance policies, helping both individuals and businesses understand their coverage limits.
General Aggregate Limit. The General Aggregate Limit, also known as the “aggregate limit of liability,” is a cap on the total amount the insurer will pay for all covered claims during the policy period. Unlike the per-occurrence aggregate, the general aggregate limit applies to the sum of all claims, regardless of the number of occurrences.
Mar 14, 2024 · The General Aggregate Limit of Liability delineates the maximum sum an insurer is obliged to pay to an insured party within a designated time frame, usually a year. It’s explicitly stated in insurance contracts, especially within Commercial General Liability (CGL) and Professional General Liability policies.
