$1 Million Per Project Primary Limits
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The $1 million Per Project Primary Limits coverage is different from traditional limits or split-limits professional liability insurance coverage. With traditional limits or split limits, every claim payment reduces the overall policy aggregate. This creates potential situations where a firm may not have adequate limits in the event of a large claim or multiple claims.
With $1 million Per Project Primary Limits coverage, the firm would have $1 million limits for every project the firm has designed since the retroactive date of its policy and for which coverage applies.