Commercial & Business Umbrella insurance
What is Commercial Umbrella insurance?
Commercial Umbrella Liability is a type of casualty insurance designed to help provide protection against significant liability claims that may exceed the policy limits of a customer’s primary casualty insurance policies such as Commercial General Liability, Business Auto and Employer’s Liability.
How does Commercial Umbrella Liability insurance work?
The Commercial Umbrella Liability Insurance Policy provides additional liability limits when an insured’s underlying liability policies are exhausted due to a large loss or court judgment. If a loss exceeds underlying policy limits, the umbrella policy should respond.
For example, assume a company has a Commercial General Liability policy with a limit of $1 million. If the customer experiences a $3 million covered loss, the $1 million limit would immediately be exhausted, leaving $2 million as the customer’s responsibility. However, if the customer had purchased an Umbrella Liability Insurance policy with a $5 million limit, that additional $2 million would be covered under the Umbrella policy.
A Strategic Asset for Your Financial Protection
An Umbrella policy is more than just another layer of insurance; it is a strategic asset for building a more resilient business. It provides an additional layer of financial protection against catastrophic claims, thereby helping protect your company’s assets.
By extending your liability limits, you create a stronger foundation for your balance sheet. This allows your business to withstand the financial impact of a significant liability loss, helping you maintain operational continuity and pursue your long-term objectives without disruption. Taking a strategic approach to liability protection can support long-term financial stability. To understand how this coverage can support your risk management strategy, contact your broker, or find a Zurich preferred broker.
Why choose Zurich for umbrella insurance?
Every company faces a unique set of liability exposures. A manufacturing firm’s risk profile differs greatly from that of a real estate developer. Understanding these differences is important when determining appropriate Umbrella limits. We work with you and your broker to understand the specific risks inherent in your operations, allowing us to structure an Umbrella solution that aligns with your needs. Our broad global reach, with one of the largest insurance networks in the industry and claims professionals in 32 countries worldwide, including dedicated Excess Casualty specialists, ensures you are protected wherever you do business.
Our goal is to provide a flexible policy designed to respond to your specific challenges. This collaborative approach helps build a robust insurance program that supports your business as it evolves.
Maximum policy limit available for qualified customers
Countries and territories in Zurich’s global network – one of the largest in the insurance industry
Claims professionals in 32 countries around the globe, including dedicated Excess Casualty specialists
Excess Casualty solutions
Commercial Umbrella Liability insurance
Zurich’s Commercial Umbrella policy combines vital Coverage A “follow form” Excess Liability insurance with Coverage B Lead Umbrella Liability coverage, providing maximum protection for the insured. Coverage C Casualty Business Crisis Expense reimburses emergency expenses up to $250,000.
Straight Excess coverage
This simple solution for first-layer excess is attached above your primary limits, written with fewer endorsements and limited definitions to better align with underlying terms and conditions.
High Excess coverage
This offers higher limits to aid customers dealing with catastrophic liability situations, aligning with scheduled underlying Umbrella coverage with clear language, updated conditions and enhanced policy definitions.
Zurich Advantage Umbrella
For companies facing an increasingly challenging litigation environment, Zurich Advantage Umbrella enhanced Excess Liability insurance offers an extra level of protection large and complex businesses need — delivered with the flexibility and convenience of a standalone policy built for today’s liability risks.
Excess Casualty Facility
The Excess Claims Made Facility addresses growing insurance challenges for large companies amid claims escalation; provides up to $100 million in claims-made excess casualty coverage, and can consider customized coverage language.
The facility brings together the expertise and financial strength of Zurich, Chubb, and Berkshire Hathaway’s National Indemnity to provide an innovative solution in a challenging market. The offering streamlines insurance acquisition and administration for customers, brokers and agents. Other key benefits include:
- A single access point
- Administrative and cost efficiencies
- Consistency in coverage terms
- Proactive and expert claims handling
Learn more here.
