Designed to help keep your business protected in the event of catastrophic loss, a commercial umbrella policy serves three purposes:
- It provides excess limits when the limits of underlying liability policies are exhausted by the payment of claims
- It drops down and picks up where the underlying policy leaves off when the aggregate limit of the underlying policy in question is exhausted by the payment of claims
- It provides protection against some claims not covered by the underlying policies, subject to the assumption by the named insured of a self-insured retention (SIR)
“The commercial umbrella insurance policy provides your business with over-arching protection – think of it as an “umbrella” – over your existing liability policies,” Says Jeff Gray, president of G&A Insurance. “Commercial umbrella insurance can be especially helpful if your business is the target of a lawsuit.”
Interested in learning more about a commercial umbrella insurance policy and how it can help protect your business from risk? We’d be happy to answer your questions. Call or email G&A Insurance and one of our team will get back to you as soon as possible.
