Umbrella insurance refers to a liability insurance policy that protects the assets and future income of the named insured in addition to his or her primary polices. It is distinguished from excess insurance in that excess insurance goes into effect only when all underlying policies are totally exhausted. The umbrella policy may also “drop down” to fill coverage gaps in some underlying policies. A commercial umbrella policy may provide such features as:

  • Blanket contractual liability protection (on both oral and written agreements)
  • Extension of protection for additional insured persons
  • Worldwide (or global) coverage
  • Personal injury coverage
  • Care, custody, and control coverage
  • Advertiser’s liability
  • XCU liability

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