Missouri Statement of Specific and Aggregate Excess Insurance Coverage is a type of insurance policy that provides excess coverage beyond the limits of a primary policy. It is designed to protect an insured party from catastrophic losses due to large claims or multiple claims. It is most commonly used by companies and organizations to protect their assets and finances from unusually large or unexpected expenses. The Missouri Statement of Specific and Aggregate Excess Insurance Coverage is divided into two types: specific excess and aggregate excess. Specific excess coverage applies to individual claims that exceed the limits of the primary policy. Aggregate excess coverage applies to the total amount of claims paid out within a specified period, such as a year, and is designed to protect against multiple claims that exceed the primary policy's limit. The excess coverage can be purchased in increments of $1 million or more and is generally written on a 'following form' basis, meaning that it follows the same terms and conditions as the primary policy.
Missouri Statement of Specific and Aggregate Excess Insurance Coverage is a type of insurance policy that provides excess coverage beyond the limits of a primary policy. It is designed to protect an insured party from catastrophic losses due to large claims or multiple claims. It is most commonly used by companies and organizations to protect their assets and finances from unusually large or unexpected expenses. The Missouri Statement of Specific and Aggregate Excess Insurance Coverage is divided into two types: specific excess and aggregate excess. Specific excess coverage applies to individual claims that exceed the limits of the primary policy. Aggregate excess coverage applies to the total amount of claims paid out within a specified period, such as a year, and is designed to protect against multiple claims that exceed the primary policy's limit. The excess coverage can be purchased in increments of $1 million or more and is generally written on a 'following form' basis, meaning that it follows the same terms and conditions as the primary policy.
