Workers Comp Term Of the Day - Aggregate

(a) The dollar amount of reinsurance coverage during one specified period, usually a year, for all reinsurance losses sustained during such period.
(b) A limit of an insurance policy naming the most it will pay for all covered losses sustained during a specific period of time, most commonly a year. Aggregate limits are most often included in liability policies. While not often used in property insurance, aggregates are sometimes included with respect to certain catastrophic exposures, such as, earthquake and flood.