Aggregate Excess Loss Coverage
Aggregate Excess Loss coverage, written in combination with Specific Excess, protects employers against unexpected fluctuations in claims frequency in total, rather than on a single covered individual. This coverage limits overall annual claims liability and reimburses the employer when claims for its self-funded plan, as a whole, exceed a predetermined threshold – the Aggregate Attachment Point.
Excess Risk provides the following features on our Aggregate Excess offerings:
Incurred and Paid, Run-in and Run-out contracts.
Monthly Aggregate Accommodation is available. Aggregate Accommodation serves as a sort of “over draft protection” for the self-funded plan. It helps the employer in the event there is a shortfall in the claim fund and is repaid once the claim fund is returned to the black.
Terminal Liability Option is available. Terminal Liability provides the employer with protection in the event the self-funded plan is terminated and the employer returns to a fully insured coverage.
Non-experience (manual) aggregates are available on existing fully insured employers.
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