What is the limit structure under a physician's, surgeon's, and dentist's professional liability policy?

The correct choice is based on understanding how professional liability policies for physicians, surgeons, and dentists are generally structured. In these policies, liability coverage typically includes two key limits: a limit for any single claim and an overall limit for all claims made during a specific policy period.

Selecting the per claim per aggregate structure indicates that there is a specific amount of coverage available for each individual claim, while also maintaining a total maximum limit for all claims that may arise during the policy term. This dual structure helps ensure that policyholders are protected against both isolated incidents and cumulative losses without exhausting their coverage too quickly.

In contrast, other structures such as per claim per incident would imply that each individual incident has its own separate limits but doesn't consider overall yearly exposure. An annual aggregate maximum would set a total limit applicable to all claims over the year but not delineate between individual claims, which could leave policyholders vulnerable. Lastly, a lifetime benefit limit would apply specifically to comprehensive coverage across an entire lifetime rather than a set timeframe and would not be typical for professional liability policies designed to cover incidents within a more defined period.