Policy Structure
Per-Claim Limit
The maximum amount an insurance policy will pay for any single claim, including defense costs if the policy has a defense-costs-inside-limits structure. The per-claim limit is always equal to or less than the aggregate limit. A policy with $1 million per-claim and $3 million aggregate limits can pay up to $1 million on any single claim and up to $3 million total across all claims in the policy period.
Related terms
Defense Costs Inside LimitsA policy structure where defense costs, including attorney fees, expert witness fees, and court cost...DeductibleThe amount the insured must pay toward a covered claim before the insurance policy begins to pay. In...Aggregate LimitThe maximum total amount an insurance policy will pay for all covered claims during a single policy ...