aggregate maximum risk exposure

Defined in Article 1, Commission Delegated Regulation (EU) 2015/35

Definitions over time (2)

1. 01/01/2020 – today applies on 12/11/2026 Article 1, Commission Delegated Regulation (EU) 2015/35 Scope: Whole act

   For the purposes of this Regulation, the following definitions shall apply:

   ‘aggregate maximum risk exposure’ means the sum of the maximum payments, including expenses that the special purpose vehicles may incur, excluding expenses that meet all of the following criteria: the special purpose vehicle has the right to require the insurance or reinsurance undertaking which has transferred risks to the special purpose vehicle to pay the expense; the special purpose vehicle is not required to pay the expense unless and until an amount equal to the expense has been received from the insurance or reinsurance undertaking which has transferred the risks to the special purpose vehicle; the insurance or reinsurance undertaking which has transferred risks to the special purpose vehicle does not include the expense as an amount recoverable from the special purpose vehicle in accordance with Article 41 of this Regulation.

2. 17/01/2015 – 18/01/2015 Article 1, Commission Delegated Regulation (EU) 2015/35 Scope: Whole act

   For the purposes of this Regulation, the following definitions shall apply:

   ‘aggregate maximum risk exposure’ means the sum of the maximum payments, including expenses that the special purpose vehicles may incur, excluding expenses that meet all of the following criteria: the special purpose vehicle has the right to require the insurance or reinsurance undertaking which has transferred risks to the special purpose vehicle to pay the expense; the special purpose vehicle is not required to pay the expense unless and until an amount equal to the expense has been received from the insurance or reinsurance undertaking which has transferred the risks to the special purpose vehicle; the insurance or reinsurance undertaking which has transferred risks to the special purpose vehicle does not include the expense as an amount recoverable from the special purpose vehicle in accordance with Article 41 of this Regulation.

Used in (8 places in 5 provisions on 12/11/2026)

Commission Delegated Regulation (EU) 2015/35 (8 in 5)

Recital 119 · Article 1 · Article 41 · Article 325² · Article 326³