WHAT A TYPICAL UMBRELLA POLICY COVERS
POLICY TERRITORY
Coverage A- Bodily Injury, Personal Injury, Advertising Injury and Property Damage Liability.
1. This insurance applies to a loss anywhere in the world.
Coverage A- Bodily Injury, Personal Injury, Advertising Injury and Property Damage Liability.
WHAT THIS POLICY COVERS Part “A”
1. Typical policy covers a covered person’s legal obligation to pay damages for a covered loss over and above the retained limit. If a covered person is legally obligated to pay damages for a loss to which this policy applies, we will pay the net loss minus the retained limit.
2. The Limit of Liability as shown in a typical Declarations Page for Coverage A is the most we will pay for any one loss, regardless of the number of covered persons, persons or organizations injured, claims made, suits brought, or organizations making claims or bringing suits.
3. The typical Policy Total Limit shown in this policy’s Declarations Page for Coverage A is the most we will pay for all losses arising out of business operations and/or business property during each policy period. Typical the policy total limit applies separately to the policy period shown on the Declarations Page and to each subsequent consecutive annual period unless the policy period is extended after issuance for an additional period of less than 12 months. In that case, the additional period will be deemed part of the last preceding period for purposes of determining the policy total limit.
DEFENSE AND SETTLEMENT
Coverage A- Bodily Injury, Personal Injury, Advertising Injury and Property Damage Liability.
1. If a claim is made or a suit is brought against a covered person for damages because of a loss to which this insurance applies:
a. At our discretion, we may investigate any loss and settle any claim or suit. We have a duty to provide a defense at our expense by counsel of our choice unless the loss is covered by your primary insurance or other insurance.
b. We have the right but not the duty to join, at our expense, with the covered person or any primary insurer in the investigation, defense, or settlement of any claim or suit which we believe may require a payment under this policy. When we have no duty to provide a defense, we will not contribute to costs and expenses incurred by the covered person or any primary insurer, or which any primary insurer is obligated to provide.
c. Our duty to defend any claim or suit arising out of a single loss ends when the applicable limit of liability is exhausted in the payment of judgments or settlements.
d. In any country where we are prevented from defending a covered person because of laws or other reasons, we will pay any expense incurred with our written consent for that defense.
2. When we have the duty to defend a claim or suit under this policy, we will:
a. Pay premiums on bonds to release attachments up to the limit of this policy. We will also pay premiums on appeal bonds and the cost of bail bonds but we will not apply for or furnish such bonds.
b. Pay interest, which accrues after the date of judgment and before we pay or tender, or deposit in court, that part of any judgment within this policy’s applicable limit of liability.
c. Pay all reasonable expenses incurred at our request. We will pay the covered person up to $200 per day, but not to exceed $10,000 in total for loss of earnings for attending hearings or trials at our request.
d. Pay all expenses we incur and costs taxed against a covered person in any suit we defend.
3. When we settle a claim, we will pay all settlement expenses we have agreed to pay.
