Umbrella/Excess Liability Flashcards
1
Q
Umbrella/Excess Liability
A
Policies used to expand the coverage provided by an underlying liability policy. Provide coverage for excess of limits of an existing liability coverage (Excess coverage) and in situations excluded by the existing policy (additional coverage).
2
Q
Self-Insured Retention
A
Aa deductible for losses not covered by the underlying policy. Generally $10,000+ in a commercial Umbrella Policy and $250 to $1,000 in a personal Umbrella Policy.
