Query: What is the difference between a Limit of Liability and the Aggregate Limit of Liability?
Context: The Limit of Liability refers to the maximum an Insurer will pay for any single claim. The Aggregate Limit of Liability refers to the maximum an Insurer will pay during a policy period. In some cases, if multiple claims arise from one circumstance or error, an Insurer may consider all such claims as a single claim, for the purposes of applying the limit of liability.