What does aggregate indemnity mean?
'Aggregate' limit of indemnity is a term used to describe the type of indemnity limit provided by the professional indemnity policy. 'Aggregate' means that the total amount of financial cover provided is limited to the amount specified in the policy schedule, arising within the specified period of insurance.
What is aggregate limit of liability?
Aggregate — (1) A limit in an insurance policy stipulating the most it will pay for all covered losses sustained during a specified period of time, usually a year. Aggregate limits are commonly included in liability policies.
What does aggregate mean in insurance terms?
Your insurance policy's aggregate limit spells out the maximum amount of money the insurer will pay for all covered losses during your policy period. After you reach your aggregate limit, the insurance company will not cover any additional claims made in that period, which is typically one year.
[PDF] HCC 172 Aggregate Indemnity limit clause
HCC 172 Aggregate Indemnity limit clause www tmhcc com/en/-/media/RoW/Documents/PI/Clauses/HCC-172 pdf Aggregate Indemnity limit clause For use with PI Media MAC 11 13 Definitions Indemnity limit is amended to read: means the Insurer's total liability to
[PDF] aggregation of claims against solicitors and surveyors
aggregation of claims against solicitors and surveyors www devereuxchambers co uk/assets/docs/events/aggregation-of-claims pdf The excess and limit of indemnity in a claims made policy will operate by reference to the claim that is made and therefore the issue of aggregation will often
[PDF] Liability Briefing - Construction Industry Council
Liability Briefing - Construction Industry Council www cic uk/uploads/files/old/pi-insurance-for-construction-consultants pdf PII policies are always subject to a limit of indemnity that is a maximum amount that insurers will pay in respect of damages interest and legal costs payable
[PDF] Frequently Asked Questions - ACCA Global
Frequently Asked Questions - ACCA Global www accaglobal com/content/dam/ACCA_Global/Technical/fact/lockton-FAQs pdf If the limit of indemnity is in the aggregate it is the maximum total amount payable for any claim or group of claims intimated in a policy year
[PDF] Professional indemnity insurance fact sheet - CPA Australia
Professional indemnity insurance fact sheet - CPA Australia www cpaaustralia com au/-/media/project/cpa/corporate/documents/public-practice/your-public-practice-firm/professional-indemnity-insurance/pii-factsheet-current rev=500fdc538ca940fe9bbaf426bc73d82e Unlike other forms of liability policy the sum insured of the PI policy is limited so that the limit applies to the aggregate of all claims against the policy
[PDF] employers_liability_insurancepdf - Birmingham City Council
employers_liability_insurance pdf - Birmingham City Council www birmingham gov uk/download/downloads/id/3884/employers_liability_insurance pdf of Insurance but subject to separate aggregate limits of indemnity for all claims in the period of insurance relating to Products and Environmental
[PDF] Professional indemnity insurance requirements - RICS
Professional indemnity insurance requirements - RICS www rics org/globalassets/rics-website/media/upholding-professional-standards/regulation/professional-indemnity-insurance-requirements---version-7 pdf 1 mai 2020 Any one claim or aggregate plus unlimited round the clock reinstatement basis; Table 1: Minimum limit of indemnity
[PDF] Excess Professional Indemnity - Zurich Insurance
Excess Professional Indemnity - Zurich Insurance www zurich co uk/-/media/business/documents/specialty-lines/700041 pdf Where the limit(s) of indemnity provided by the underlying policy(ies) is in the aggregate including costs and expenses in any one period of insurance then the
[PDF] Professional indemnity Excess layer - AXA Connect
Professional indemnity Excess layer - AXA Connect www axaconnect co uk/siteassets/broker-documents/commercial-lines/professional-indemnity---excess-layer---policy-wording---clpi0024p-b pdf cover for limits of indemnity in excess of the primary policy up to the amount at which aggregate limit of this policy if any will continue to apply
- what is reinstatement of aggregate limit of indemnity
- what is the full and correct definition of the 'aggregate limit of indemnity'