general aggregate limit insurance term
Disease - policy limit el. General liability comes with two limits. What Is An Aggregate Limit And Why Is It Important Phelps Dunbar Llp In professional liability insurance sublimits are usually a stated percentage of an aggregate limit of coverage under a policy. . 1000000 per occurrence limit. Airbnb offers free short-term rental insurance for every booking on their platform. This means the insurer will pay up to one million dollars to cover any one claim. The aggregate limit of liability is the most an insurer is obligated to pay to an insured party during a specified period. Personal and Advertising Injury Limit. The aggregate limit of liability is spelled. A type of reinsurance agreement in which losses over a specific amount are covered solely by the reinsurer and not by the ceding company. As used in this title unless the context otherwise requires or a different meaning is specifically prescribed h...