Commercial Umbrella and Excess Liability

In 1990, it was uncommon for companies to be sued for more than a million dollars. In 2015, it is not uncommon for a company to have several large claims going on at the same time. A large judgment against your company could damage your reputation and it might even put you out of business.

An Umbrella or Excess Liability policy provides additional insurance protection for your business. Umbrella or Excess Liability coverage applies in excess or above your Primary, Automobile Liability and General Liability coverage, and can also go over Worker's  Compensation, Professional Liability and Directors & Officers Liability coverage. Umbrella or Excess Liability Insurance kicks in when your primary limits have been exhausted.

Actual Claim Examples:

• A delivery van failed to stop at a red light, and ran into a vehicle. The result was a $3.5 million dollar judgment for brain damage to the injured party.
• A man suffered severe food poisoning at a restaurant after eating food that was spoiled. The restaurant was sued for injuries. The award was for $1.8 million dollars.

There is a distinct difference between an Umbrella and an Excess Liability policy:

Umbrella Liability not only provides excess limits of liability above your underlying policies, but may also provide protection when there is no underlying insurance. It also can broaden your commercial insurance to help eliminate gaps in coverage.

Excess Liability Insurance provides you with additional limits of liability beyond your underlying policies shown in the schedule. This type of policy is more restrictive than an Umbrella Liability policy.

The Excess or Umbrella Insurance policies we provide can be written for most industries including, but not limited to:

• Nonprofits
• Medical and Health Industries
• Churches
• Construction
• Manufacturing
• Distribution
• Technology
• Financial Services
• Retail & Hospitality
• Arts & Entertainment

One thing to remember is that an Umbrella or Excess liability Insurance policy will not cover everything; there are exclusions just as in any other insurance policy. However, it still represents an excellent method to help protect your business from catastrophic claims. Contact us to discuss securing this valuable form of liability coverage. It could help preserve your business.