Aggregate Limits

{
  "id": "MLC-T-ENV-000746",
  "term": "Aggregate Limits",
  "field": "Environment",
  "definition": "Indicates the amount of coverage that the insured has under the insurance policy for a specific period of time, usually the contract period, no matter how many separate accidents may occur. Once the aggregate limit has been reached, no more damages can be allocated to that policy. For example, a property covered under a policy with a $1 million limit per occurrence and a $2 million aggregate limit will have coverage for up to $1 million per occurrence or incident, and coverage for up to $2 million in total damages under the policy. Thus, if a policyholder had three claims in a year for $750,000 each, the insurance will cover the first $2 million dollars, at which point the $2 million aggregate will have been reached, and the remaining $250,000 will not be covered by the policy.",
  "subject": "Land, waste and cleanup",
  "references": [
    "Environmental Insurance and Risk Management Tools Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/aggregate-limits/"
}