Recovery Calculation with Combined Aggregate Limit
Protection:
| Section | Cover | *Excess | Combined Aggregate Limit | Aggregate Limit |
|---|---|---|---|---|
| Main section | 400 000 | 100 000 | 1 000 000 | |
| Marine | 400 000 | 100 000 | 800 000 | |
| Aviation | 300 000 | 200 000 | 600 000 |
Claim Basis: Losses Occurring
Claim Sequence: Date of Settlement
Inward Claim Booking details - in date of settlement sequence:
| Claim | Classification | Paid Loss |
|---|---|---|
| Claim A | Marine | 500 000 |
| Claim B | Aviation | 350 000 |
| Claim C | Marine | 500 000 |
| Claim D | Aviation | 300 000 |
Recovery Calculation:
| Claim | Section | Retention | Recovery | Reinstatement Exhausted |
|---|---|---|---|---|
| Claim A | Marine | 100 000 | 400 000 | |
| Claim B | Aviation | 200 000 | 150 000 | |
| Claim C | Marine | 100 000 | 400 000 | |
| Claim D | Aviation | 200 000 | 50 000 | 50 000 |
Explanation:
Although Claim D is within the Aggregate Limit of the Aviation Section, it exceeds the Combined Aggregate Limit. The remaining balance is booked towards Reinstatement exhausted.