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The project agg must be added to a CGL by endorsement. This will provide for the full amount of your per occuerence limit to that project. If your policy limits are set for $1,000,000 per occuerence and a general policy aggregate of $2,000,000 you would be able to use the $1,000,000 limit for the per project aggregate. This is all subject to your carrier approving this type of transaction. However it is very commonly done.
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Are per project aggregate and per location aggregate the same thing?
No, per project aggregrate applies seperately to each project during the policy period, per location aggregrate applies uniquely to the locations worked at during the policy period. Per location doesnt seem that common...
What is Per policy vs per project?
This refers to the "aggregate" limit of your general liability policy. Look at your policy declarations and you'll likely see something like this: General Aggregate: $2,000,000 Prod/Comp Ops Aggregate: $2,000,000 Each Occurence: $1,000,000 Personal/Adv Injury: $1,000,000 Fire Legal Liablity: $100,000 Medical Payments: $5,000 A "Per Policy" aggregate means the most your insurer will pay for the total of all claims during your policy term (usually one year) is the first number - $2M. A "Per Project" aggregate means the insurer will pay the same $2M for all claims that occur from any specific project. Frequently, the "Per Project" endorsement requires that each separate project be listed by name. Expect the insurer to charge you for a "Per Project" aggregate - it greatly increase the amount they could potentially pay during the policy term.
What is the limit per project to the commercial general aggregate?
This will vary with the surety company and the state in which you reside. No easy answer.
Does per project aggregate override per policy aggregate?
You should check your specific policy or have a broker do it because per project endorsements can vary from carrier to carrier and be restricted. The answer to your question is yes though, per project CAN override the policy aggregrate, the endorsement should indicate how much by, usually 5x original aggregrate max, etc. Also this only comes into pla yif the claims happen on seperate projects..it doesnt increase the per occurence or per location aggregrate.
What does general aggrEGATE insurance cover?
Aggregate = per year, which generally is the policy period.
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Universe is the aggregate of all existing matter, energy, and space
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Fineness Modulus is a measurement of the coarseness or fineness of a given aggregate.
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Is the primary per location aggregate follow form on the excess?
No
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A rock is a naturally occurring solid aggregate of one or more minerals
What do you mean by scope of project?
The scope of a project, or project scope, is the definition of what is to be accomplished during the project and what the end result will be.
