A limit in an insurance policy stipulating the most it will pay for all covered losses sustained during a specified period of time; usually one year. Aggregate limits are commonly included in liability policies. While not often used in property insurance; aggregates are sometimes included with respect to certain catastrophic exposures; e.g.; earthquake and flood. ??The dollar amount of reinsurance coverage during one specified period; usually 12 months; for all reinsurance losses sustained under a treaty during such period.

« Back to Glossary Index

Comments are closed.