Business umbrella insurance is critical in today’s litigious environment. People are more prone to sue a company or business professional now than ever before, particularly when they feel wronged by an organization that has (or is perceived to have) deep pockets. Business umbrella insurance provides extra liability protection to help protect your business in the event of a major lawsuit.
A Commercial Umbrella policy is designed to provide a level of protection against catastrophic losses. It generally is written over various primary liability policies, such as the business auto policy (BAP), commercial general liability (CGL) policy, watercraft and aircraft liability policies, and employers’ liability coverage.