1. Aggregate limits stipulate the most that will be paid for all covered losses sustained during a specific period of time, which in most cases is one year. They are commonly used in liability policies. While not often used in property insurance, aggregates are sometimes included with respect to certain catastrophic exposures (e.g., earthquake and flood).
2. The dollar amount of reinsurance coverage within a specified period of time, usually 12 months, for all reinsurance losses sustained under a treaty during such period.