Supplemental liability business insurance is also known as umbrella insurance. The name “umbrella” derives from the fact that this type of business insurance is a separate policy over and above any other basic liability policies that an insured person or business may have. Umbrella insurance is a coverage that basically affords high limit coverage in excess of the limits of primary policies, as well as additional liability coverage. Often times, these additional types of coverage are subject to a substantial self-insured retention.
|
