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What else can I help you with?
What if the products completed operations aggregate amount is insufficient?
You can purchase an Excess/Umbrella policy to increase your liability limits.
What is the key difference between an umbrella policy and excess liability policy?
similar - umbrella usually a personal lines excess coverage. excess liability policy could be anything. Both are designed to provide another layer of protection over and above the underlying policy(ies)
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. .
Does the per project aggregate apply to completed operations?
Yes, the per project aggregate typically applies to completed operations in the context of liability insurance. This means that the total amount available for claims related to completed operations is limited to the per project aggregate limit specified in the policy. Once this limit is reached, no further coverage would be available for additional claims related to that project. Always refer to the specific policy language for exact terms and conditions.
What does llc after a company's name mean?
Limited Liability Corporation
What if the products completed operations aggregate amount is insufficient?
You can purchase an Excess/Umbrella policy to increase your liability limits.
In the Commercial General liability what liability exposures has its own aggregate that is separate from the general aggregate?
Premises and operations.
What is the cost of 5000000 General liability insurance?
Most insurance companies will write 1,000,000 per occurrence with a 2,000,000 aggregate. If you wanted a total of 5,000,000 you would need a 4,000,000 umbrella/excess liability policy. But to answer your question it depends on the type of risk.
What is excess insurance mean on an subcontractors insurance?
The term 'excess' insurance is usually for liability coverage. An excess liability policy is also commonly referred to as an 'umbrella' policy because it offers additional coverage over other liability coverages. In the case of a subcontractors insurance, it would be a policy which would extend higher limits than the base policy on general liability and auto liability.
What does in-force policy limit aggregate mean?
One Insurers total liability of a series of policies owned by the same Individual or Company
Are billings in excess of cost a current liability or long term liability?
Yes it is a current liability
Is the primary per location aggregate follow form on the excess?
No
What does No Aggregate mean in general liability?
In general liability insurance, "No Aggregate" refers to a policy feature where there is no limit on the total amount the insurer will pay for all claims during the policy period. Unlike aggregate policies, which cap total payouts at a specified limit, a no aggregate policy allows for potentially unlimited coverage for each individual claim. This can provide greater protection for businesses facing multiple claims, ensuring they are fully covered without the risk of hitting a cap on payouts.
What is General Aggregate limit?
On a general liability policy, the general aggregate is the highest amount that will be paid out in a policy period no matter how many claims. For example, you may have a $1 million per occurrence limit which would mean with a $2 million aggregate, you could theoretically have (2) $1 million claims.
What is excess auto coverage?
I believe the term you are meaning to say is excess liability coverage. An excess liability policy act similar to an Umbrella policy that increases your liability limits on your underlying auto, home, boat, or rv policies at a very reasonable rate. An excess liability policy does differ from a true Umbrella policy so ask your agent to explain the differences and what is available for you.
AAD stands for what in catastrophe excess loss reinsurance?
Annual Aggregate Deductible
In finance what is an excess of liabilities over assets called?
What is excess of total liability over a total assets?
