A deductible applied annually to the total amount paid in claims during a policy period. Claims are generally subject to a per-occurrence deductible the aggregate is the limit beyond which no further deductibles are applied.
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UK: A nonproportional reinsurance provision stipulating that the reinsured will retain, in addition to its retention per risk or per occurrence, an annual aggregate amount that would otherwise be recoverable from the reinsurer. The annual aggregate deductible is usually expressed as an amount or a percentage of the reinsured’s subject premium for the period.