Insurance Glossary

Aggregate Limit of Indemnity & Any One Claim Limit of Indemnity

If your limit of indemnity is on an “Aggregate” basis, this means that this is the maximum that your insurers will contribute to the total value of all claims made against your firm during the year. For example, if your limit of indemnity is £1,000,000 and you have a claim made against you for £400,000, and another separate claim made against you for £800,000 during the same year, your limit wilChampion2019.

I will be exhausted and you would be responsible for the remaining £200,000. Having an aggregate limit of indemnity is not as wide as having an “Any One Claim” limit. If you had a £1,000,000 “Any One Claim” limit of indemnity, your insurers would contribute up to £1,000,000 for every separate claim made against you. Therefore insuring on an “Any One Claim” basis is more expensive as the cover is more comprehensive.

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