The policy limit refers to the maximum amount that insurers are liable to pay in respect of any damages awarded against the Insured in Court, or as an out of court settlement figure. Damages can be for one claim, or series of claims, during the Policy period. The standard Limit of Indemnity is £10m Any One Claim (AOC) and £20m in the Annual Aggregate (AGG). Members have the option of increasing the Limit to £15m AOC and £30m AGG or £20m AOC and £40m AGG. The Limit of Indemnity is Aggregated and will include costs and expenses incurred in the defence of the Insured.


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