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What does Aggregate mean in general liability?

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In a insurance policy, the limit of liability is often expressed as a value per occurrence and a separate value as an aggregate limit.
The policy will pay no more than the per occurrence limit for each covered occurrence Further, the pay no more than the aggregate limit for all claims during the policy period. On an insurance policy it would often be expressed as
$1,000,000/$2,000,000 occurrence / aggregate
The numbers listed above could be replaced by any other number, however the aggregate limit will never be less than the per occurrence limit.
Alternatively, the limit could be split between per claim and aggregate instead of per occurrence and aggregate This has no effect on the meaning of aggregate in the policy.
Mark Walters, ARM AAI
West Insurance Group
mwalters@westagy.com

In a nutshell, aggregate means the total paid out for all incidents during the policy period.
In the above example you could have 2 claims during the insured period for $1m each but not 3, as 3 x $1m is more than the aggregate limit.
Thanks for the feedback!

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