This cost is especially important for companies to know when planning projects or deciding to launch a new product or service. Under some commercial general liability (CGL) policies, the general aggregate limit applies to all covered bodily injury (BI) and property damage (PD) (except for injury or . 3. Information and translations of aggregate amount in the most comprehensive dictionary definitions resource on the web. . For example if the company does 10 projects per year, the policy limit per project would be $2,000,000 and the aggregate coverage would be $20,000,000 across all of the projects put together. Aggregate limits determine the amount that can be paid out during the entirety of a . There are several other types of aggregates used both in business and the economy, including . What does in the aggregate mean insurance? Aggregate Excess Insurance provides coverage once the total claims for an annual period exceed a predetermined retention amount. The aggregate amount paid out by the leading blue chips has also risen a good deal faster than the index - with or without the dividend income. The first limit you have to deal with is the limit on per-incident payouts. For personal and business accounts the banking deposit aggregate is the total combined deposits, otherwise known as the current balance, for all deposit accounts. taking all units as a whole. What is General Aggregate limit? These refer to the maximum amount an insurer will pay for a single claim or incident. Constituting or amounting to a whole; total: aggregate sales in that market. Per aggregate limit. Aggregate limits are distinct from per-occurrence (or per-claim) limits. A general aggregate limit is the maximum limit of insurance payable during any given annual policy period for all losses other than those arising from specified exposures. What does aggregate mean in insurance? For example, you may . Aggregate Amount means the aggregate amount by which the resolution authority has assessed that eligible liabilities must be written down or converted, in accordance with Article 41 (1); Aggregate Amount shall have the meaning assigned to it in the recitals. Aggregate cost is a term used to describe the total amount of money a particular project or proposal will cost a company. General aggregate in insurance is the total amount that you can claim from your insurance company within the period of the policy, which is usually one year. Synonyms: collective, added, mixed, combined More Synonyms of aggregate. 1. Aggregate (1) A limit in an insurance policy stipulating the most it will pay for all covered losses sustained during a specified period of time, usually a year. The mortgage aggregate adjustment determines the initial deposit that must be placed in the escrow account at closing. Aggregate stop loss provides employers with a ceiling on the dollar amount of any eligible expenses that the employer would ordinarily pay during a contract period, thus providing protection for the entire group's population. What does aggregate loan amount mean? Before the closing of the loan, the mortgage lender will calculate the maximum allowed property tax and homeowner's . clustered in a dense mass or head. Fellas, been wondering what "in aggregate" means when referring to fishing regs. The aggregate limit is the total amount the insurer will pay in any one policy term. gross weight Aggregate weight means the gross weight of an exhibit of evidence, not including any packaging." What does gross weight stand for? Aggregate demand is the desire or demand for those products, whereas GDP is the total amount of goods and services produced in an economy. Generally a limit of $1,000,000/$3,000,000 means $1,000,000 per covered claim with $3,000,000 aggregate in a policy year, subject to the terms of the contract. oftentimes hospitals and 3rd party credentialing organizations will . AGGREGATE (noun) The noun AGGREGATE has 3 senses: 1. the whole amount. 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. LoginAsk is here to help you access What Does Aggregate Amount Mean quickly and handle each specific case you encounter. Your general liability policy may have a flat $500,000 limit on individual claims. aggregate: [adjective] formed by the collection of units or particles into a body, mass, or amount : collective: such as. Common aggregate functions include : Average() (i.e., arithmetic mean) Count() However, other general liability coverage policies will have something along the lines of a $1,000,000 per occurrence limit and a $2,000,000 general aggregate limit (excluding products-completed operations). In database management an aggregate function is a function where the values of multiple rows are grouped together to form a single value of more significant meaning or measurement such as a set, a bag or a list. The policy limit consists of 2 numbers, a "per claim" limit and an "annual aggregate" limit. The retention can be stated as a flat dollar amount (often calculated as a percentage of expected losses), as a percentage of standard premium, or in terms of a specific loss ratio. This includes checking, savings, money market deposit accounts, trust accounts and certificate of deposits. What does aggregate excess mean? The aggregate loan limit is the cumulative lifetime amount a student is allowed to borrow in Department of Education loans. The maximum amount of money your insurer will pay for all the claims you file during the policy period, typically one year, is known as your aggregate limit. Too many in one year, and you'll run up against the aggregate limit of liability. What does an aggregate amount mean? The formula is used to calculate the amount that allows a two-month cushion . Sample 1 Sample 2 Sample 3. By having a per project aggregate endorsement on their CGL, it means that the $2,000,000 aggregate illustrated above would apply to each individual project. Observation/Ruling. As a result of using the same calculation techniques, changes in aggregate demand and GDP are coordinated. Once covered expenses reach the annual aggregate, the policy stops paying out benefits, even if subsequent legitimate claims are filed. As adjectives the difference between aggregate and total is that aggregate is formed by a collection of particulars into a whole mass or sum . Find Insurance Markets; Find A Company; Search Blogs; Search Users . An aggregate limit is a maximum amount an insurer will reimburse a policyholder for all covered losses during a set time period, usually one year. An aggregate amount or score is made up of several smaller amounts or scores added together. The aggregate limit of liability is spelled . Aggregate Monthly Payment means, with respect . Based on 6 documents. gate ( g r -g t) adj. AAR observed that as per the definition of "Aggregate Turnover", in terms of Section 2 (6) of the CGST Act, 2017, "aggregate turnover" means the aggregate value of taxable supplies, exempt supplies, exports of goods or services or both under inter-state supplies of persons having the same permanent account number, to . Aggregate Investment means the total amount of all equity securities of the Company held by the Investors, directly and indirectly (taking into account any adjustment as a result of any stock dividend, split, reverse split, combination, recapitalization, liquidation, reclassification, merger, consolidation or otherwise. See more. More Synonyms of aggregate. Deposit Aggregate. Botany Crowded or massed into a dense cluster. composed of mineral crystals of one or more kinds or of mineral rock fragments. The rate of growth of GNP will depend upon the rate of growth of aggregate demand. The aggregate limit is the maximum amount an insurer will pay for covered losses during a policy period. 2. material such as sand or gravel used with cement and water to make concrete, mortar, or plaster. Aggregate Limit: An aggregate limit is a contract provision used in insurance to limit the amount that can be paid in the policy period. This means that, in this example, individual claims have a limit of $1,000,000 each, while the total policy coverage for all claims made . This is the total value left to be paid to the company for the shares in this currency. Any help on the Total aggregate amount unpaid much appreciated Many . Aggregate Amount means the total dollar amount during a fiscal year of . What does per claim limit mean? Aggregate Limit Of Liability: The aggregate limit of liability is the most an insurer is obligated to pay to an insured party during a specified period. formed from several separate ovaries of a single flower. definition. About Us; Membership; Consumers; Contact Us; Manage Your Subscriptions. The employer is typically reimbursed by the carrier at the end of the contract period for any aggregate claims. Aggregate Amount: 50* According to Indiana Statute IC 32-34-1.5-19 (b): "A report required under section 18 of this chapter may include in the aggregate items valued under fifty dollars ($50) each. If the report includes items in the aggregate valued under fifty dollars ($50) each, the attorney general may not require the holder to provide . An aggregate limit is the maximum dollar amount your . What Does Aggregate Amount Mean will sometimes glitch and take you a long time to try different solutions. For instance, typically a dependent student can only borrow up to $31,000 of which of which no more than $23,000 of this amount may be in subsidized loans. Student loan limits vary depending on the type of loan, the student's degree level, year in school and dependency status, the college's cost of attendance, other aid received by the student and the loan program. Technically, aggregate demand only matches GDP over the long run if the price level is considered. Furthermore, you can find the "Troubleshooting Login Issues" section which can answer your unresolved problems and . Aggregate definition: An aggregate amount or score is made up of several smaller amounts or scores added. Aggregate Loan Limit is the cumulative amount of how much a person can borrow through a loan program. Health insurance plans often carry aggregate limits. This term is also used in botany to refer to a flower or fruit made of florets in a dense cluster. Composed of a mixture of minerals separable by mechanical means. On certain types of insurance coverage, an aggregate limit is put in place. Home. In many cases . 10 - possession, in aggregate Closed March 1 - June 15. The annual aggregate limit is the total amount an insurer will pay in a given single year. That refers to the maximum amount of money the . Dictionary entry overview: What does aggregate mean? 3. a sum total of many heterogenous things taken together Familiarity information: AGGREGATE used as a noun is uncommon. What does aggregate coverage mean? Aggregate limits are commonly included in liability policies. If someone falls down the stairs at your office and sues, the policy will pay for legal fees and damages up to the half-million limit. | Meaning, pronunciation, translations and examples Mar 23, 2005. It works differently than the more common embedded deductibles used in non-HDHP health insurance. Aggregate Payments means the payment in full, in cash, of the Merger Consideration and all other amounts to be paid in connection therewith by Parent or Merger Sub, or the Company, the Surviving Corporation or their Subsidiaries, including the repayment of Company Debt, the payment. Times, Sunday Times In addition, the circular provides for a three-tier set of documentation and reporting standards, based on the aggregate amount of intercompany transactions. If a provider had a malpractice insurance policy with $1,000,000/$3,000,000 limits, he/she would have a $1,000,000 limit per claim and a $3,000,000 aggregate limit for the year. 2. The annual aggregate limit is the maximum amount of coverage an insurance policy provides over a policy year. Gross simply means the entire amount of something, in this case weight. As nouns the difference between aggregate and total is that aggregate is a mass, assemblage, or sum of particulars; something consisting of elements but considered as a whole while total is an amount obtained by the addition of smaller amounts.
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what does aggregate amount mean