What does the Group Annual Aggregate Limit mean and How does Earthquake & Flood Insurance work?
Earthquake & Flood Insurance is provided as optional coverage on a DIC (Difference in Conditions) basis. CIBA refers to this coverage, if elected, along with property and liability coverage, as COMPREHENSIVE coverage. Earthquake coverage is for covered buildings, landlords permanent fixtures and improvements, and includes loss of rental income. Minimum Earthquake deductible is 5% of the combined value (real property, personal property, and rental income) per building, subject to a minimum deductible depending upon the program selected. The Group Annual Aggregate is the Maximum that will be paid in any one policy term for all losses to all insured members enrolled in the Comprehensive Programs.
