Per-claim limit
The maximum amount available for damages arising from one claim or the same alleged error, omission, or wrongful act, as the policy defines them. It operates alongside any aggregate limit.
A per-claim limit is the ceiling available for one claim as the policy groups it. Iowa’s real-estate E&O regulatory notice defines the term as the maximum payable for damages from the same error, omission, or wrongful act.
The grouping language matters. Multiple demands, claimants, or projects may be treated as one claim under a particular policy, while other wording may separate them. Defense expenses can also be inside or outside the limit depending on the policy.
Read the per-claim limit with the aggregate, retention, definition of related claims, and defense-cost provision. A contract requirement that uses only one number may not tell you how much remains available after an earlier claim.
Sources
- Primary source: Iowa Administrative Bulletin ARC 7460C — E&O insurance definitions — Official regulatory notice defining per claim limit for damages from the same error, omission, or wrongful act.