general aggregate limit
The maximum limit of insurance payable during any given annual
policy period for all losses other than those arising from specified
exposures. Under the standard commercial general liability (CGL)
policy, the general aggregate limit applies to all covered bodily
injury (BI) and property damage (PD) (except for injury or damage
arising out of the products-completed operations hazard) and all
covered personal and advertising injury. When paid losses in these
categories reach the specified aggregate limit, that limit is exhausted
and no more losses in any of those categories will be paid under
the policy. In other words, once the general aggregate limit is
paid out, the only coverage remaining under the policy will be for
products-completed operations claims—which are paid out of a separate
aggregate. See also
Aggregate;
Aggregate limit of liability;
Aggregate
limits reinstatement;
Basket aggregate;
Limits under multiple policy
(LUMP) years;
Rolling policy limits.
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