A contractor's general liability policy has a $2 million aggregate limit and $1 million per occurrence limit. After two claims of $800,000 each, how much coverage remains?
Correct Answer
A) $400,000
Aggregate limit applies to total claims per policy period: $2,000,000 - ($800,000 + $800,000) = $400,000 remaining.
Why This Is the Correct Answer
Aggregate limit applies to total claims per policy period: $2,000,000 - ($800,000 + $800,000) = $400,000 remaining.
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