AOY Limit in Liability Insurance

Answers:1   |   LastUpdateAt:2011-12-16 16:32:39  

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Asked at 2011-12-16 11:39:42
AOY Limit in Liability Insurance
Answer1Jessie Answered at 2011-12-16 16:32:39
There are two decay liability insurance - AOA - any accident - AOY - one year - In general, the insurance company asks you to specify the limit of the sum of both. Exp. AOA - 10,000 rupees. means any accident will be capped at Rs 10,000 . as the sum insured Exp. 2. AOY - 20000 rupees in a year means you can be sure of maximum demand amount of Rs. 20000, regardless of the number of accidents in the year. and above the insurance companies let you choose the AOA and AOY in a proportion as 1:1 or 1:2 or 1:3 or 1:04 etc Rakesh Choudhary Business Analyst - P & C
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