Umbrella policy

Umbrella policy

Insurance for exports of an exporter whose issuer handles all administrative requirements.

Umbrella Policy

An insurance policy that covers the policyholder for all claims that his/her other insurance policies do not cover. For example, if a health insurance policy only covers an individual up to $1 million, an umbrella policy would pay for all claims above that. Likewise, if an export insurance policy covers loss but not damage to the exports, an umbrella policy would cover damage. Umbrella policies exist to cover all possible contingencies for the policyholder that are not covered under other policies.
References in periodicals archive ?
Accordingly, we reverse and remand for a factual determination on the issue of damages relevant to coverage under the umbrella policy.
If necessary, the umbrella policy would pay obligations beyond the upper limits of auto or homeowner's liability coverage.
ACE declined coverage under Comforce's umbrella policy, in part, on the grounds that the claims were excluded from coverage.
The revised policy is intended to be a single umbrella policy under which more detailed Service policies or guidance documents covering specific activities may be issued in the future.
The record shows that at the time the initial fuel leak occurred in Cabarrus County in April 1976, Plantation had $1,000,000 in primary coverage under a comprehensive general liability ("CGL") policy issued by American Reinsurance Company (subject to a self-insured retention of $100,000), and had excess coverage, including $1 million under an umbrella policy issued by Lexington Insurance Company.
The children are injured, the accident exceeds the auto insurance limits, and now they need to rely on an umbrella policy to cover the difference.
Understanding the concept of uninsured/underinsured motorist coverage and how an umbrella policy enhances the limits of uninsured/underinsured coverage can help those like Joe protect against such huge losses.
An umbrella policy can protect consumers from losses that may not be covered by their other insurance policy.
The only problem was that, unbeknownst to me or my insurance agent, that umbrella policy would not cover me if I ever shot someone in self-defense.
Additional 10 percent discount available for Firm Partner Group Personal Umbrella policy.
Instead of buying policies in each country where a company does business, an umbrella policy, also known as a controlled master program, carries many advantages, says Alejandro Marmorek, managing director at Aon Risk Solutions.
He said plaintiffs' attorneys won't be able to advise clients in 45 days whether to accept an offered settlement because that's insufficient time to see if the defendant has other assets, an umbrella policy exists, or there are other alternatives.