The "Per Policy Aggregate" is the standard overall limit on an insurance policy, representing the maximum total amount the insurer will pay for all claims during the policy period. This is also known as the General Aggregate Limit, and once reached, no further claims will be paid.
The "Per Project Aggregate" applies the General Aggregate Limit to each individual project you are working on, effectively increasing coverage since the limit is reset for each project. In some cases, there may be a maximum cap on the total payout, while in others, no such cap exists.
This limit is typically applied to policies such as general liability or professional liability insurance.