Limits of Liability
The most the policy will pay: per claim, and in total for the policy period (the aggregate).
What it means for your firm
Professional liability is usually shown as two numbers, such as $1M per claim and $2M aggregate.
Contracts often set minimum limits. Those are a starting point, not always the right limit for your firm.
Guides that use it
Articles that explain it
What an Insurer’s Contract Reviewer Looks For: 10 Clauses in a Good Design Contract How Much Does Professional Liability Insurance Cost for Civil Engineers? Why Would an E&O Policy Require You to Maintain General Liability Insurance? What Is an Extended Reporting Period (Tail) on an A&E Professional Liability Policy? Can Geotechnical Mistakes Turn Into Professional Liability Claims? Who Is Responsible When a Senior Engineer Fails to Review a Junior Engineer’s Design?
General definition for education only. It is not an interpretation of any policy or contract, and it is not legal advice. The wording of your own policy and contract controls. Policies and definitions vary by insurance company.
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