Every day businesses are faced with mitigating some type of new liability risk and defending potential litigation.
For that reason, purchasing a liability umbrella policy is coverage that no business should go without. Provide your clients with added liability protection and alleviate their concerns about losing income or assets.
Commercial Umbrella Insurance Product Highlights
Umbrella coverage over general liability, auto liability, employer liability and liquor liability policies.
Key Advantages of a Commercial Umbrella Policy
• Policy limits up to $5 million (Qualifications Apply to higher limits)
• $500 minimum premium per layer
• Policy premium up to $10,000
• Written on admitted paper
• Product available in 47 states and the District of Columbia
(except Alaska, Louisiana and Vermont)
• Over 260 classes available
Limits Available
• General Liability
− $1 million per occurrence
− $2 million general aggregate
− $1 million products-completed operations aggregate
− $1 million personal & advertising injury
Minimum Underlying Requirements
• Employee Benefits Liability: $1 million general aggregate
• Auto Liability: $1 million combined Single Limit
• Employers Liability: $500,000 each accident, $500,000
disease-policy limit, and $500,000 disease-each employee
• Liquor Liability: $1 million each common cause or each
occurrence/$1 million general aggregate
• All underlying carriers must be rated A-VI or better
by A.M. Best
• All policies must provide defense costs in addition to
the limits (Defense Outside)
Best suited for Standard Classes of Business, including:
• Commercial & Habitational Real Estate
• Homeowners & Condominium Associations
• Hotels/Motels
• Professional Offices
• Restaurants
• Retail Trade
• Service Industry
• Artisan Contractors
• Bowling Centers
Restricted Classes or Industries
All Standard Classes of Business, including:
• Aviation products
• Energy (including fuel oil dealers)
• Healthcare
• Trucking and Transportation
• Pharmaceuticals & Nutriceuticals
• Professional liability
All products may not be available in all states and surplus lines products can only be offered through licensed surplus lines producers. This communication contains product summaries only. Coverage is subject to the language of the policies as actually issued.