Umbrella Liability insurance (or Excess Liability, as it is sometimes called) protects a firm from catastrophic claims by adding additional limits to the standard underlying coverages of Commercial General Liability (often part of a firm's BOP or Package), Business Automobile, Liability, and Employer's Liability insurance. Firms buy umbrella policies to protect against legal matters that create liability in excess of $1,000,000 and to obtain the extra limits of liability to cover losses after the underlying insurance is exhausted.
The BIT Hartford Program includes an Umbrella Liability coverage up to $10,000,000 per occurrence, and Greyling can obtain options for higher limits if needed. Greyling individually brokers umbrella and excess liability for firms in the ACEC BIT Program who do not qualify for the Hartford Program and can assist firms in identifying and quantifying probable risks in order to purchase an optimal level of coverage.
Greyling also coordinates umbrella and excess coverage with other policies that may be scheduled as underlying insurance, such as a foreign package of general or public liability, auto liability, and employer's liability that applies to a firm's international operations or exposures.