What does general aggregate insurance cover?
A general aggregate limit of liability applies to all types of liability claims that the policy covers, such as property damage, bodily injury, personal, and advertising injury. A per-occurrence limit applies to every incident for which the insured party files a claim.
Is Lucent good for SSC CGL?
Is Lucent GK book enough for SSC CGL? Ans: Lucent GK is an excellent book. However, the candidates must refer to the NCERT books too for GK preparation. Also, appearing for the SSC GK Quiz regularly and giving the exam on test series can undoubtedly help in cracking the exam.
What is general aggregate limit on insurance policy?
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.
What is a commercial general aggregate limit?
The general aggregate limit in your commercial insurance policy refers to the maximum amount your insurer will pay for covered liability claims during your insurance term.
How many limits are found in a CGL policy?
six different limits
The CGL policy lists on the declarations six different limits. While the policy lists separately each of the six limits, it is important to recognize that the limits are all interrelated. That is, a reduction of one limit by the payment of damages will also reduce another limit.
What are aggregate claims?
Distinct from a per-claim limit, which states the amount an insurer will pay for each individual claim made during the policy period, the aggregate limit is the maximum amount an insurer will pay for all such claims made against the insured during the policy period, no matter how many separate claims might be made.
Who wrote Lucent GK?
Sanjeev Kumar
Renu SinhaManvendra MukulR. P. SumanVinay Karna
Lucent’s General Knowledge/Authors
Which GS book is best for SSC CGL?
Best General Study Books for SSC (CGL, CHSL, & Delhi Police) Exams 2021
- #1 SSC Topic-wise 48 Solved Papers. This is one of the best books since it is released.
- #2 SSC CHSL Examination Book.
- #3 Ultimate Guide to SSC CGL.
- #4 Mahendras SSC Kit (Combo of 5)
- #5 Kiran’s SSC CGL Question Bank.
What is occurrence limit?
Per Occurrence Limit — in liability insurance, the maximum amount the insurer will pay for all claims resulting from a single occurrence, no matter how many people are injured, how much property is damaged, or how many different claimants may make claims.
What does Bob mean in insurance?
Effective Beginning of Business
Effective Beginning of Business (BOB) Appointments: A50, A52, A54, A56. Mandatory and Permissive Reinstatements: A57, A58, A59, A68. Changes in Status: A60, A61, A63, A64, A65, S46.
Do CGL policies have deductibles?
The deductible on most standard commercial general liability (CGL) policies can be structured two different ways – and the impact on your bottom line can be significant depending on how the policy is written. Most manufacturers maintain a $5,000 or $10,000 deductible on their CGL.