MLchartDataset catalogue

Basket aggregate

Term · Insurance and risk management · MLC-T-INS-000538

A type of deductible or retention that applies to the total amount of losses from multiple occurrences within a specified period, rather than to each individual loss. Once the accumulated losses reach the basket aggregate amount, the insurer begins to pay for subsequent covered losses. This mechanism is often used in reinsurance treaties or large commercial policies to manage the frequency and severity of claims over time.

Table 1. Record
IdentifierMLC-T-INS-000538
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000538",
  "term": "Basket aggregate",
  "field": "Insurance and risk management",
  "definition": "A type of deductible or retention that applies to the total amount of losses from multiple occurrences within a specified period, rather than to each individual loss. Once the accumulated losses reach the basket aggregate amount, the insurer begins to pay for subsequent covered losses. This mechanism is often used in reinsurance treaties or large commercial policies to manage the frequency and severity of claims over time.",
  "url": "https://mlchart.com/terminology/insurance/basket-aggregate/"
}

Record 301 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.