Commercial Umbrella or Excess Liability Insurance increases a company's liability limit. An umbrella policy adds to the liability limit of the underlying liability policies to offer additional protection. Whereas, an Excess Liability policy covers you for increased liability limits for a specific insurance policy.
A Commercial Umbrella or Excess Liability policy responds to eligible losses after the primary or underlying liability insurance limit has been reached. In the event of a loss, the liability portion of the underlying policy is the first to respond.
This content is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.