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In the Commercial General liability what liability exposures has its own aggregate that is separate from the general aggregate?
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Per location aggregate?
A "Per location aggregate" is an endorsement added to Commercial General Liability policies which extends separate liability limits for each location as opposed to sharing one limit. For example.... If you have a policy with 2 locations covered with a $1m Occurence/$2m Aggregate limit and you DO NOT have a "Per Location Aggregate" then both locations would share the $1m/$2m limit. If your policy includes a "Per Location Aggregate" Endorsement the both Location #1 and Location #2 would each have separate $1m/$2m limits in the event of a loss.
Does a commercial general liability policy also provide excess vehicular liability coverage beyond the coverage in the driver's separate mva policy?
No. A commercial liability policy specifically excludes liability arising out of the ownership, maintenance or use of a motor vehicle.
Does the general aggregate limit apply to products-completed operations?
Your general liability policy contains three separate limits. A per occurrence limit (Max paid out for any one occurrence) Aggregate (Max pay out for multiple policies on claim) Products and completed ops aggregate (Can reduce amount paid for product or operations claims, to below the other aggregate limit or even the per occurrence limit. Lack of products and completed ops coverage can also be a problem which would show no product and completed ops limit. yes - there is a separate aggregate for products coverage and premises operations.
What does Aggregate mean in general liability?
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.
Can you get a limited liability company to be a separate entity like a c corporation in Michigan so i get taxed as a separate entity?
No public liability company its ok
What is the meaning of 'aggregate' in terms of weight?
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 mass 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.
Is aircraft insurance provided under a general liability policy?
For commercial insurance, the ISO GL form excludes liability from the use, ownership, etc. of aircraft. You would need to buy separate coverage from an insurer that sells aircraft insurance. Many insurers use this form as-is, or stick very close to it in their own forms.
Is stationery a liability?
From a bookkeeping point of view Stationary is a separate account from everything else and when posted is usually classed as an Asset ot a Liability.
Why do incorporated businesses have limited liability?
Because they are a separate legal entity from the owner
Should the rylands v fletcher rule remain a separate tort liability?
Some argue that the Rylands v Fletcher rule should remain as a separate tort liability because it holds strict liability for certain activities that cause harm, regardless of fault. This can encourage greater care and precaution by those engaging in inherently risky activities. However, others argue that its principles can be incorporated into existing tort laws, such as negligence, making a separate tort liability unnecessary.
What is the different between separate legal entity and limited liability?
i dont im loooking for it
Is comprehensive insurance covered with liability insurance?
No, it's a separate coverage that you may purchase.
