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There are primarily two types of stop loss insurance: specific and aggregate.

1. **Specific Stop Loss Insurance**: This type of coverage protects against high claims incurred by an individual employee. For instance, if an employee has a medical condition that results in exceptionally high medical bills, specific stop loss insurance will cover the costs that exceed a predetermined threshold.

2. **Aggregate Stop Loss Insurance**: This coverage is designed to protect against total claims that exceed a certain level for the entire group of employees. It provides a safety net for employers by covering the total annual claims that surpass the expected aggregate amount.