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Appendix A TYPICAL “FULLY DEVELOPED”AGGREGATE EXTENSION CLAUSEINCLUDED IN LMX OUTWARDSREINSURANCE CONTRACTS FROM THEMID-1960s ONWARDS

Reinsurance Practice and the Law

Chapter A TYPICAL “FULLY DEVELOPED”AGGREGATE EXTENSION CLAUSEINCLUDED IN LMX OUTWARDSREINSURANCE CONTRACTS FROM THEMID-1960s ONWARDS TYPICAL “FULLY DEVELOPED”AGGREGATE EXTENSION CLAUSEINCLUDED IN LMX OUTWARDSREINSURANCE CONTRACTS FROM THEMID-1960s ONWARDS AGGREGATE EXTENSION CLAUSE (APPLICABLE TO LIABILITY AND PROFESSIONAL INDEMNITY BUSINESS ONLY) 1. As regards liability incurred by the Reinsured for losses on risks covering on an aggregate basis, if required by the Reinsured, this reinsurance shall protect the Reinsured excess of the amounts as provided for herein in the aggregate any one such aggregate loss up to the limit of indemnity as provided for herein in all any one such aggregate loss.

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Devices

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