What is ANNUALAGGREGATE LIMIT?

The maximum amount that an INSURANCE contract will pay in settlements to an INSURED over a 12month period, regardless of the number of CLAIMS submitted.

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Related Legal Terms
LINE LIMIT, OCCURRENCE LIMIT, BLOCK LIMIT, OVERDRAFT LIMIT, RECOMMENDED EXPOSURE LIMIT (REL), LIMIT MOVE, VARIABLE LIMIT, TIME LIMIT ON CERTAIN DEFENSES, BASIC COVERAGE LIMIT, OUT OF POCKET LIMIT


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