‘Umbrella Liability', ‘Follow Form Excess' and ‘Stand Alone Excess' are coverages which are all available through your ‘MJ Hall' broker.
Most common is Umbrella Liability which is designed to provide protection against catastrophic losses. It generally is written over various primary liability policies, such as the business auto policy (BAP), commercial general liability (CGL) and employers liability coverage.
The Umbrella Liability 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; and 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).
Follow Form Excess and Stand Alone Excess identify an “excess” liability policy that follows the underlying policies for most policy provisions. The policy may ‘stand alone' for certain exclusions, conditions, etc., while relating back to the underlying coverage for most provisions. This type of policy form is typically used excess of scheduled underlying insurance and usually contains a requirement that the insured maintain scheduled underlying insurance.
Contact your ‘MJ Hall' Broker to identify the needs and requirements of your insureds when considering which of these coverages would best serve the purpose for any individual case.
M.J. Hall and Company, Inc.
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