General Aggregate Limit Overview:
What Is a General Aggregate Limit?
A general aggregate limit is the maximum limit of insurance payable during any given annual policy period for all losses other than those arising from specified exposures. Under some commercial general liability (CGL) policies, the general aggregate limit applies to all covered bodily injury (BI) and property damage (PD) (except for injury or damage arising out of the products-completed operations hazard) and all covered personal and advertising injury. When paid losses in these categories reach the specified general aggregate limit, that limit is exhausted and no more losses in any of those categories will be paid under the policy. In other words, once the general aggregate limit is paid out, the only coverage remaining under the policy would be for products-completed operations claims—which are paid out of a separate aggregate.
See also Aggregate; Aggregate limit of liability; Aggregate limits reinstatement; Basket aggregate; Limits under multiple policy (LUMP) years; Rolling policy limits.
To learn more about how a General Aggregate limit could/does restrict your organizations coverage, speak to an ALIGNED Insurance Advocate. connect with us today.
About ALIGNED Insurance
ALIGNED specializes in delivering insurance and risk management solutions exclusively to Canadian businesses. Through our 18 points of differentiation and expertise, we deliver unmatched value to our growing portfolio of clients from all industries that range from small to large organizations.
We offer all of the following products:
Management Liability:
Board Insurance / Directors and Officers (D&O) Insurance
Employment Practices Liability (EPL) Insurance
Fiduciary Liability Insurance
Other:
Property Insurance- Including Business Interruption & Extra Expense
Machinery Breakdown/Boiler & Machinery Insurance
Course of Construction(COC)
Wrap-up Liability Insurance
Commercial General Liability / CGL Insurance
Pollution Liability Insurance
Commercial Automobile & Fleet Insurance
Umbrella Liability Insurance
Cyber, Hacking & Privacy Liability Insurance
Crime/Fidelity/Employee Theft Insurance
Professional Liability/Errors & Omissions (E&O) Insurance
Kidnap & Ransom Insurance
Representations & Warranty Insurance
Trade Credit
Surety & Bonding
| ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours. |