The wording of the question is a bit vague here because it doesn't tell us the type of claim. In general, the basic limit for a claim is $100,000 except for medical expenses which are $5,000. The aggregate limit of $200,000 applies to a claim when the claim involves multiple parties and types of event. For example, a fire causes $100k in damage, $100k in BI, and 3x $5,000 in medical expenses in a single year would be capped at $200,000.
We're trying to say the same thing. For a given event covered by the policy, the per-occurrence limit is $100k and the aggregate limit is $200k for that event. The event itself could be a fire, advertising injuries, or something like a recall of a particular product.
Thank you. Do you mean that you finally agree with my interpretation in September 22: "Can I say 100k is limit per claim per type of cost, 200k is per event per year?"
Comments
The wording of the question is a bit vague here because it doesn't tell us the type of claim. In general, the basic limit for a claim is $100,000 except for medical expenses which are $5,000. The aggregate limit of $200,000 applies to a claim when the claim involves multiple parties and types of event. For example, a fire causes $100k in damage, $100k in BI, and 3x $5,000 in medical expenses in a single year would be capped at $200,000.
Can I say 100k is limit per claim per type of cost, 200k is per event per year?
It's better to say 100k per claim per type of cost (except for med), and 200k in aggregate over a policy year.
But, if it is aggregate over a policy year, why we don't limit the losses in the 1st table on the top?
We're trying to say the same thing. For a given event covered by the policy, the per-occurrence limit is $100k and the aggregate limit is $200k for that event. The event itself could be a fire, advertising injuries, or something like a recall of a particular product.
Thank you. Do you mean that you finally agree with my interpretation in September 22: "Can I say 100k is limit per claim per type of cost, 200k is per event per year?"
Yes