This policy provides protection against catastrophic liability claims. The policy acts as an excess coverage over your primary liability policies. Its limits apply in addition to that provided by the underlying coverage.

Aircraft Owned/Non-Owned
Standard Umbrella policies exclude or limit the liability protection provided for aircraft either owned or used by your company. This endorsement is used to extend your Umbrella policy to include coverage for the aircraft exposures as stated in the form. Back to top

Broad Definition of Net Loss
This clause is used to determine the specific expenses or types of payments that your policy covers or excludes. A "Net Loss" definition covers actual damage awards and related expenses including adjustment fees, investigation expenses and appraisal costs. This is important because some policies cover only costs related to the actual damage awards. Back to top

Broad Definition of Occurrence
An Umbrella policy should be reviewed to ascertain that it insures losses arising out of an occurrence which is defined as an event or happening resulting from a continuous or repeated exposure. This is important since some policies may limit the occurrence definition to an accident that results from such loss. This wording may result in some question as to whether coverage is afforded for failure-to-act situations such as failing to assist in emergency situations. Back to top

Broadened Personal Injury
This endorsement is used to extend the Umbrella policy to include coverage for claims resulting from those additional exposures specified in the form. Back to top

Claims-Made Form Used
This coverage provides protection for only those claims arising from an accident or negligent act, which occur and are reported during the policy period. To provide coverage for acts that occurred prior to the dates stated on the policy, a Prior Acts, or Retroactive Date endorsement, must be used. These endorsements extend the coverage back to the retroactive dates stated on the endorsement, allowing you to keep coverage in force under consecutive claims-made policies. Back to top

Concurrent Coverage with GL Form
Currently, Liability forms can be written on either Claims-Made or Occurrence forms. It is important to make sure that your Excess policy be of the same nature as the underlying forms. Crossing over, such as providing a Claims-Made Umbrella over an Occurrence underlying policy, can cause serious coverage gaps and should be avoided. Back to top

Concurrent Underlying Dates
This provision specifies that your Umbrella policy's expiration date must be concurrent with those of your underlying policies. If separate dates are used, several dangerous situations could occur. For example, your underlying policy's aggregate limits, required by your Umbrella, might become inadequate because a claim has reduced the original limits prior to the Umbrella inception. This could result in a gap in protection if another claim should occur. Back to top

Contractors Limitation End.
This endorsement is used to modify the standard Umbrella policy by adding several exclusions related to construction operations. It is important to review these limitations to ensure that you are aware of any coverage restrictions that may apply to you. Back to top

Cross Liability Provided
This endorsement is used to ensure that suits between named insureds are covered just as though there were separate insurance policies issued to each one. This is needed to maintain adequate limits of coverage for each named insured. Back to top

Drop Down Coverage Provided
This provision states that your Umbrella policy will drop down and replace underlying primary liability insurance should these limits be exhausted or reduced. Back to top

Excess of Underlying
Occasionally, it may be found that certain Umbrella policies or Excess forms include the underlying limit in the total limit of coverage available. This provision states that the policy limits will be in excess of your underlying coverage amounts. Back to top

Excess Policy
This form provides higher limits of coverage for only those hazards covered by your primary policies. No coverage exists if it is not included in your underlying schedule. Back to top

Excluded Activities Reviewed
This provision(s) specifies those activities or exposures that are excluded from coverage within your Umbrella policy. Back to top

First Dollar Defense Coverage
This provision is used to extend your policy to indemnify you for costs of claims defense without application of your self-insured retention limit. Back to top

Full Retroactive Coverage
As part of your risk management program, we have reviewed your Claims-Made policy to determine that the retroactive date listed allows no gaps in coverage between the prior Claims-Made policy's expiration date and the current policy's inception date. Back to top

Indemnify Definition Used
This provision is used to specify the insurance company's payment obligations. Under an "Indemnity" definition, a company is not required to pay for damages until you incur a legal obligation to pay. This means you must use your own funds to defend lawsuits until a judgement is actually rendered. Back to top

Laser Endorsement Added
This endorsement is used by your insurance carrier to exclude coverage for a specific product or work incident without excluding coverage for all products or completed operations. Back to top

Liberalization Clause Included
This endorsement is used to expand the policy to allow any changes introduced during the year which broaden coverage, to be automatically included in the policy for the remainder of its coverage period. Back to top

Occurrence Form Used
This form provides coverage for claims arising out of an accident or loss which occurs during the policy period even if the claim is made after the termination date. Back to top

Pay on Behalf Definition Used
This provision is used to specify the insurance company's payment obligations. Under the "Pay on Behalf" definition, your company must respond to damages that you become obligated to pay without regard to whether any actual settlement or payment has been made. Back to top

Per Claim Limit
This is the amount of coverage that is available for each claim during the policy year. Back to top

Personal Coverage for Officers
This endorsement is used to extend the Umbrella policy to provide personal protection for those individuals in your company listed on the form. Back to top

Prejudgement Interest Included
This provision states that your policy will include reimbursement for interest accrued during the time from occurrence to award. Back to top

Prior Acts Coverage
This provision in a Claims-Made policy excludes protection for any claims made during the policy period that arise from an occurrence prior to the inception or retroactive date listed on the policy. Back to top

Retention Limit Reviewed
This is the part of a claim that must be retained by you before your umbrella/excess policy is activated. It is similar to a deductible clause. Back to top

Retroactive Date
This date is used to specify, in a Claims-Made policy, the extent of coverage that is available for claims that occur prior to the inception of the policy in effect at the time such claims are made. If a claim is made for damage that occurred before the retroactive date, the policy will not respond, even though all other requirements of the policy have been met. Back to top

Self Insured Retention (SIR)
This value represents the amount of damages and/or legal costs that you must assume (retain) before your insurance protection becomes payable. Back to top

Tail Coverage Available
In the evaluation of your claims-made contract, two features are of extreme importance in its long-term adequacy. First, it must be determined if the contract guarantees availability of an extended reporting endorsement, or tail coverage, at the policy's termination. Second, assuming the tail is available, it must be determined for what period of time the tail will remain in force, and at what cost. Back to top

Umbrella Policy
This form provides a higher limit of coverage that is excess over scheduled underlying policies. It is used in one of three ways:

(1) to provide additional limits of protection over the coverage listed in your underlying schedule,
(2) to act as primary coverage if your underlying limits are exhausted, and
(3) to provide coverage for some risks, subject to a retention, when your primary coverage does not. Back to top

Watercraft Owned/Non-Owned
Standard Umbrella policies exclude or limit the liability protection provided for watercraft either owned or used by your company. This endorsement is used to extend your Umbrella policy to include coverage for those watercraft exposures as stated in the form. Back to top

Worldwide Coverage
This provision specifies the territory in which coverage is provided under your policy. Back to top