Excess Liability
Extra limits above one specific underlying policy, following its terms.
What it means for your firm
It differs from an umbrella, which can sit over several policies. Contracts do not always treat the two as the same.
Articles that explain it
Your Client Wants $5M and You Carry $2M: Options for One Project Can I Buy Less Cyber and Lean on My Umbrella? Limits Don’t Stack the Way You Think A Client Wants You to Double Your Professional Liability Limit. What Are Your Options? Can an Umbrella Policy Satisfy a $2 Million Auto Liability Requirement?
General definition for education only. It is not an interpretation of any policy or contract, and it is not legal advice. The wording of your own policy and contract controls. Policies and definitions vary by insurance company.
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Starting out or renewing, with a policy in hand or not. If something is worth discussing, we’ll call. If not, we’ll say so.