Umbrella Business Insurance

Umbrella Liability

Umbrella Liability policies provide protection against catastrophic losses and can be written over the General Liability policy, the Business Auto policy, the Employer’s Liability policy, and others.  They provide 2 main functions.  First, they provide higher limits of liability than the underlying policies and serve as excess limits.  Secondly, they can provide protection (subject to exclusions and a self insured retention) against some claims not covered by the underlying policy.  Umbrellas have become increasingly important as medical & legal costs increase.  All companies should consider umbrella liability protection, especially sole proprietors and those with a large amount of assets or hazardous operations.