Setting an aggregate insurance coverage limit protects the insurer. It balances the gain from your insurance premiums against the risk of a really big loss on your policy. Understanding Special Cases The aggregate insurance definition has a few variations in particular industries. In construction, it...
Definition:In the aggregate Contract Type Jurisdiction Country Include Keywords Exclude Keywords Additional filters are available in search Open Search Use ofIn the aggregatein a Clause In the aggregatemeans forall claimsor suits in a single year seeking damages under aninsurance policyissuedby the boar...
Aggregate Expense Rate With respect to any Mortgage Loan, the sum of the Master Servicing Fee Rate, the applicable Servicing Fee Rate and the rate of any lender-paid Primary Mortgage Insurance Policy. Aggregate Excess Funding Amount has the meaning specified in Section 2.2(c)(iv). Aggregate Pay...
That is, if one or more insured events happen in a given year, the policyholder is responsible for covering damages up to a certain dollar amount, at which point the insurance company begins coverage. Because the deductible is calculated annually, if two insured events happen in a year, the...
Define aggregate fruit. aggregate fruit synonyms, aggregate fruit pronunciation, aggregate fruit translation, English dictionary definition of aggregate fruit. n. A fruit, such as a raspberry, consisting of many individual small fruits derived from separ
But, considering this broader definition, it is also clear that much of the spending by businesses is also a form of saving. Some of the money for investments is borrowed, but much of business spending is financed by the revenues that the business earns by conducting its business. Yes, ...
Now, let’s delve deeper into the definition of an Aggregate Extension Clause and its implications in finance. Put simply, the AEC is a provision frequently included in financial agreements, such as loans or insurance contracts, that provides an option for extending the contract’s expiration date...
Aggregate Expense Rate With respect to any Mortgage Loan, the sum of the Master Servicing Fee Rate, the applicable Servicing Fee Rate and the rate of any lender-paid Primary Mortgage Insurance Policy. Aggregate Outstanding Loan Balance means on any day, the sum of the Outstanding Loan Balances ...
Aggregate stop-loss insurance is a policy designed to limit claim coverage (losses) to a specific amount. This coverage ensures that a catastrophic claim (specific stop-loss) or numerous claims (aggregate stop-loss) do not drain the financial reserves of a self-funded plan. Aggregate stop-loss...
which may arise during the tenure of the insurance policy. The coverage will also pay for any claim, loss, and lawsuit in which a policyholder is involved until it reaches the aggregate limit. Once the policyholder has crossed the general aggregate limit, the CGL company is not obligated to ...