Designed to provide protection against catastrophic losses, this coverage is generally written over and above various primary liability policies — including the business auto policy (BAP), commercial general liability (CGL) policy, watercraft and aircraft liability policies, and employers’ liability coverage.
The umbrella policy’s fundamental purpose is to provide additional limits of insurance. It provides excess limits when the limits of underlying liability policies are exhausted by the payment of claims. Furthermore, it provides protection against some claims not covered by the underlying policies, subject to the assumption by the named insured of a self-insured retention (SIR).
Our experienced professionals possess the knowledge to determine what type of umbrella and excess liability insurance you may need, and how to tailor an appropriate solution. We will help you conduct a thorough coverage analysis, and obtain a well-structured program for your business.