MLchartDataset catalogue

Annual aggregate deductible

Term · Insurance and risk management · MLC-T-INS-000425

A deductible that applies to the total amount of all covered losses occurring within a policy year, rather than to each individual loss. Once the sum of all losses exceeds this aggregate amount, the insurer begins to pay for subsequent losses. This deductible limits the insured's total out-of-pocket expense for multiple claims in a year.

Table 1. Record
IdentifierMLC-T-INS-000425
FieldInsurance and risk management
SubjectCommercial Property
Record as JSON 
{
  "id": "MLC-T-INS-000425",
  "term": "Annual aggregate deductible",
  "field": "Insurance and risk management",
  "definition": "A deductible that applies to the total amount of all covered losses occurring within a policy year, rather than to each individual loss. Once the sum of all losses exceeds this aggregate amount, the insurer begins to pay for subsequent losses. This deductible limits the insured's total out-of-pocket expense for multiple claims in a year.",
  "subject": "Commercial Property",
  "url": "https://mlchart.com/terminology/insurance/annual-aggregate-deductible/"
}

Record 168 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.