Full Definition
The aggregate limit is the maximum total amount an insurance policy will pay for all covered claims during the policy period (typically one year). Once the aggregate is exhausted, no further claims are covered until the policy renews. General liability policies have separate per-occurrence limits and general aggregates — a typical policy might have $1M per occurrence and $2M aggregate. Products-completed operations may have its own separate aggregate. Professional liability and D&O policies often include defense costs within the aggregate, meaning legal fees erode the available limits.
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