Aggregate

Summary of Aggregate

The maximum exposure borne by an insured party under a contract of insurance during a given time period, usually one year. If, for example, a policy provides for a deductible of $ 1,000 per occurrence with an aggregate of $5,000, then once the insured party has paid out $5,000 in total, he will not pay the deductible on subsequent claims arising during the policy period, irrespective of the number of claims made against the policy or the amounts involved.

(Main Author: William J. Miller)

Aggregate

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• Joinder