Umbrella Reinsurance

Umbrella Reinsurance

A reinsurance policy that covers the policyholder for all claims that his/her other reinsurance policies do not cover. For example, if an insurer has an individual reinsurance policy for its health and life policies, an umbrella reinsurance policy would cover its property, liability and other policies. Umbrella policies exist to cover all possible contingencies for the insurance companies that are not covered under other policies.
References in periodicals archive ?
Collins, a Minneapolis-based reinsurance broker, has introduced an umbrella reinsurance facility that can provide up to $5 million in commercial and personal umbrella limits.