Aggregate excess insurance

{
  "id": "MLC-T-INS-000367",
  "term": "Aggregate excess insurance",
  "field": "Insurance and risk management",
  "definition": "A form of reinsurance or self-insurance protection that covers losses after they exceed a certain total amount during a specific period. The policy responds once the cumulative sum of all paid claims, which are individually below a certain deductible, surpasses a predetermined aggregate attachment point. This coverage is distinct from specific excess insurance, which applies to single large losses rather than the accumulation of many smaller ones.",
  "url": "https://mlchart.com/terminology/insurance/aggregate-excess-insurance/"
}