Insurance Glossary

Products-Completed Operations Aggregate

Business

Definition

The maximum amount of coverage offered under a general liability insurance policy for claims and lawsuits related to injury, illness, or property damage caused by delivered products or completed services.

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Related Terms

Aggregate Limit

The maximum amount an insurance policy will pay for all covered losses during a policy period, regardless of the number of claims.

Business Interruption Insurance

Coverage that compensates a business for lost income during periods when operations are suspended due to covered perils such as fire, natural disaster, or other insured events.

Commercial General Liability

Insurance that protects businesses against claims of bodily injury, property damage, personal injury, and advertising injury that occur during normal business operations.

Workers' Compensation Insurance

Required insurance that provides medical benefits and wage replacement to employees who are injured or become ill in the course of employment.

Professional Liability Insurance

Also known as Errors and Omissions (E&O) insurance, this coverage protects professionals against claims of negligence, mistakes, or failure to perform professional duties.

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