Aggregate excess insurance definition

Aggregate excess insurance means an insurance product that limits a group self-insurance association's annual aggregate liability to an agreed upon amount.

Aggregate excess insurance means that type of coverage whereby the insurer agrees to reimburse the insured employer or trust for all benefits or claims paid during an agreement period on behalf of all covered persons under the plan or trust which exceed a stated deductible amount and subject to a stated maximum.

Aggregate excess insurance means insurance which provides that the excess insurer pays on behalf of or reimburses a self-insurer for its payment of benefits on claims incurred during a policy period in excess of the retention amount to the excess insurer's limit of liability.

Examples of Aggregate excess insurance in a sentence

• Aggregate excess insurance to be purchased by the pool under its plan shall be bound before the effective date of the plan.

• Aggregate excess insurance" means that type of coverage whereby the insurer agrees to reimburse the insured employer or trust for all benefits or claims paid during an agreement period on behalf of all covered persons under the plan or trust which exceed a stated deductible amount and subject to a stated maximum.

• Aggregate excess insurance provides coverage if the total losses of the Fund exceed an established loss fund.For the years ended December 31, 2004 and 2003, the Fund carried specific excess insurance, which provided statutory (unlimited) limits in excess of $1,000,000 and $750,000 per occurrence, respectively.

• Aggregate excess insurance provides coverage if the total losses of the fund exceed an established loss fund.for the years ended December 31, 2005 and 2004, the fund carried specific excess insurance, which provided statutory (unlimited) limits in excess of $1,000,000 per occurrence.

• The expenses of the representatives attending a Committee will be borne by their respective parties.

More Definitions of Aggregate excess insurance

Aggregate excess insurance means that type of coverage whereby the insurer agrees to reimburse the insured employer or trust for all benefits or claims paid during an agreement period on

Aggregate excess insurance means insurance purchased from either an insurer or a non-admitted surplus line company licensed or approved by the Insurance Commissioner of Colorado that is liable for payment of the aggregate of all self-insured claims in excess of a retained predetermined aggregate value paid by the self-insured.

Aggregate excess insurance means that type of coverage 37

Aggregate excess insurance. Stop Loss Insurance purchased by the Pool from insurance companies and/or Lloyd’s of London, or other similar entities, approved by the Board of Directors, or any committee appointed by the Board for such purpose, to protect the Pool from an accumulation of losses in any policy year should the “Loss Fund” be exhausted. Once the “Aggregate Excess Insurance” is triggered, any further losses within the “Self Insured Retention” will be paid by this coverage.

Aggregate excess insurance means that type of coverage whereby the insurer agrees to reimburse the insured employer or trust for all

Aggregate excess insurance means an insurance product that limits a group self-insurance

Aggregate excess insurance. Stop Loss Insurance purchased by the Trust from insurance companies or other similar entities, approved by the Board of Directors, or any committee appointed by the Board for such purpose, to protect the Trust from an accumulation of losses in any policy year.