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 may be required as a condition of approval of any self-insured program.

• Aggregate excess insurance may be required by the Commission if necessary.

• Excess indemnity insurance — Aggregate excess insurance or specific excess insurance that meets the requirements in §125.11(b)(1) (relating to 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 behalf of all covered persons under the plan or trust which exceed a stated deductible amount and subject to a stated maximum.

More Definitions of Aggregate excess insurance

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 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 that type of coverage 37

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 that type of 36

Aggregate excess insurance means that insurance purchased from either an insurer or a non- admitted surplus line company licensed or approved by the Insurance Commission of Colorado in which the self-insured pays the aggregate of all self-insured claims up to the predetermined aggregate amount and the insurer or an approved non-admitted surplus line company pays the amount in excess of those cumulative claims paid by the self-insured on claims incurred in a policy year to their limit of liability.

Aggregate excess insurance means the amount of insurance required to cover the total accumulated workers’ compensation benefits for all claims payable for a given period of time with the Employer retaining an obligation for a designated amount as a deductible and the insurer paying all amounts due thereafter up to a maximum total obligation.