The most a policy will pay for a loss arising out of any one accident regardless of overall policy limits, is known as the Per occurrence limit - The per occurrence limit represents the most the policy will pay for all losses arising out of any one occurrence, regardless of other policy limits.
<h3>What is Per occurrence limit?</h3>
Regardless of when a claim is made, an occurrence policy provides lifetime coverage for occurrences that take place within the policy period. Unless a "tail" extension is bought, a claims-made insurance only covers incidents that happen and are reported within the policy's time term. The amount that an insurance will cover for any one incident or claim is determined by per-occurrence limits.
Aggregate limitations specify the maximum amount that will be paid out during the course of the insurance. (The majority of general liability plans last for six months or one year.) The highest amount that a liability insurance provider will pay for all claims stemming from a single occurrence, regardless of the number of people wounded, the amount of property damaged, or the number of potential claimants, is known as the "per occurrence limit.
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