What does 5 million each occurrence and in the aggregate mean?
The Aggregate coverage is the maximum the policy will pay out in any given policy term.
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Answer . \nEach occurence means that the liability limit of your policy doesn't have an accured limit. Every time you have an accident, the policy limits are available (i.…e. each occurence).
There are several explanations. In botany it refers to floretscollected in a dense cluster, such as in a daisy. In geology it isa mixture of minerals separated by mechanical m…eans. In medicalterms it means crowded or massed into a dense cluster.
Aggregate loan limit is the max amount you can take out in student loans. It's like a credit card, if you max out the card, you have to pay down the principle balance before y…ou can use that card again.
If no aggregate amount is stated on an umbrella policy of years ago is there one Policy states 5mill per occurrence nothing else company says aggregate is 5 mill I cant agree Any recourse?
It appears that 5 mill per occurrence is the consensus in thecompany, then the best recourse would be to consult a lawyer. Alawyer may help you state your case regarding the u…mbrella policyyears ago.
An aggregated sentence is one that is a cluster of words. It doesnot make sense and it is not formed properly.
Aggregate is a process of combining separate objects to make one object or mass. A house, as an example is an aggregate of wood, insulation, nails, shingles, etc. The whole ma…ss is considered a house, workshop, utility shed, or even garage.. Aggregate weight would be the overall weight of combining several separate objects. As an example, five people getting onto an elevator would have a combined (aggregate) weight. Their individual weights added together, but separateley, they have their own individual weight.
ocÂ·curÂ·rence â â [ uh -kur- uh ns, uh -kuhr-] Show IPA noun 1. the action, fact, or instance of occurring. . 2. something that happens; event; i…ncident: We were delayedby several unexpected occurrences. .
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 firstname.lastname@example.org 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.
In aggregate planning, you look at things from a far point of view. In other words, looking at the big picture of the whole plant. Not caring about the small details, such as …a particular product , a particular worker or where this worker is assigned. You can take the an average for products, if the company produces many products, as a weighted average of how much you produce of each type. So, now you have a single average product to plan for. The similar thing for the number of workers. we just need the amount of items they can produce per operation day. we do not look into the detail of which department this worker is going to work in. In general, aggregation is used to simplify the problem and then get best solution to use when disaggregating the components in the following steps of the production planning.
When something occurs/happens.
An aggregate (noun) is the sum or whole amount. To aggregate (verb) is to collect or amount together.
In Math and Arithmetic
An aggregate is an unusual term for adding together. So the "aggregate" will be 2 + 5 + 7 = 14
It means to describe the 5 most important events that occurred in the good earth. (Tell why it's significant.) Hope that helps!
In Public Speaking
It means, can you, personally, do each of those 5 things.
In Liability Insurance
An occurrence is a loss, or a claim filed on the policy.
Aggregate demand is defined as the total demand for goods and services at a certain price level during a a specific time period. This may be referring to Gross Domestic Produc…t of a country or a single company.