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CMCi combines what we know about risk management and insurance from a global perspective with very specific market knowledge to develop the best insurance solutions for our clients.

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Excess & Umbrella Liability

 

Excess Liability

Excess Liability Insurance is liability coverage which does not participate until all other similar insurance on the same subject is exhausted, or until the loss exceeds a previously agreed upon amount.


Umbrella Liability

Umbrella Liability coverage refers to a policy that protects the assets and future income of the named insured in addition to his or her primary policies. It is distinguished from excess insurance in that excess coverage goes into effect only when all underlying policies are totally exhausted, while umbrella is able to "drop down" to fill coverage gaps in underlying policies. Therefore, an umbrella policy can become the primary policy "on the risk" in certain situations. The term "umbrella" refers to how the policy shields the insured's assets more broadly than primary coverage.

 

 


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