0
The Aggregate coverage is the maximum the policy will pay out in any given policy term.
.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What does Upstairs unit duplex mean?
It meams that there are two separate living units. Instead of side my side with each on a foundation, the uper unit is totally above the lower unit, and does not touch the ground or foundation. It can be that each unit has one level, making a total of two stories, or each can have multiple levels. It can be classed as a duplex, condo or PUD
What does 'suite of services' mean?
Suite of services is a term used to describe all the service offerings or products a business has for customers. When you purchase a suite of services, the services and products complement each other.
What does franchise development mean?
Franchise development means the increasing of the number of outlets that are held under the umbrella of that store name. Each one will be managed and owned by the franchisee but they pay for the goods and services and to have the company name and advertising.
What does ASWP mean in shipping terms?
ASWP means ANY SAFE WORLD PORT. If there is a war going on in your country or if your country and the country where the item you are buying the item from are at odds with each other, your port may not be a safe world port for ships or items from the opposite country.
What does LFG mean?
LFG- mean's looking for group
What is General Aggregate limit?
On a general liability policy, the general aggregate is the highest amount that will be paid out in a policy period no matter how many claims. For example, you may have a $1 million per occurrence limit which would mean with a $2 million aggregate, you could theoretically have (2) $1 million claims.
What does Aggregate mean in general liability?
In a insurance policy, the limit of liability is often expressed as a value per occurrence and a separate value as an aggregate limit. The policy will pay no more than the per occurrence limit for each covered occurrence Further, the pay no more than the aggregate limit for all claims during the policy period. On an insurance policy it would often be expressed as $1,000,000/$2,000,000 occurrence / aggregate The numbers listed above could be replaced by any other number, however the aggregate limit will never be less than the per occurrence limit. Alternatively, the limit could be split between per claim and aggregate instead of per occurrence and aggregate This has no effect on the meaning of aggregate in the policy. Mark Walters, ARM AAI West Insurance Group mwalters@westagy.com In a nutshell, aggregate means the total paid out for all incidents during the policy period. In the above example you could have 2 claims during the insured period for $1m each but not 3, as 3 x $1m is more than the aggregate limit.
What does each occurrence mean in liability insurance?
An occurrence is a loss, or a claim filed on the policy.
What mean by nominal size of aggregate?
Nominal size is the size of the largest aggregate in a grading.
What does per occurrence mean in insurance?
Per Occurrence in insurance means its time an event occurs. Consumers often see this on auto insurance, when they find out the deductible amount they will pay each time they have a wreck.
What does 'each occurrence' mean?
Each occurence means that the liability limit of your policy doesn't have an accured limit. Every time you have an accident, the policy limits are available (i.e. each occurence).
What dangerous occurrence mean?
bum
What is a side yard aggregate setback?
individual side yard requirements vs. aggregate side yard requirements."Aggregate" is a term commonly associated with total or combined building setbacks, as opposed to an individual setback on one side."There shall be a side yard on each side of a building having an aggregate width of not less than 7'. "There shall be a side-yard on each side of a building witha minimum of 5' having an aggregate width of not less than 14'". This would mean that they one or the other can't be less than 5' but when summed they are not less that 14'
What does phemomena mean?
is any observable occurrence.
What do yoy mean by probability?
Likelihood of occurrence.
What does contretomps mean?
An unfortunate occurrence or a mishap.
What does eventus in latin mean?
Event, occurrence.
