You may also be interested in
Victor’s Commercial Umbrella Liability coverage provides effective protection against large losses and potential coverage gaps for a range of exposures. The policy provides limits to supplement those of a Commercial General Liability (CGL) and Automobile policy, as well as additional liability coverages not contained in the CGL. The term “umbrella” is derived from the fact that it is a separate policy over and above any other basic liability policies.
Eligibility
- Primary coverage is available to existing policyholders and also where we do not write the Commercial General Liability (CGL)
- Coverage is also available on an excess basis over other insurers’ forms
- Professional liability is not included
Coverage Details
- Policy Form – Occurrence
- Capacity – Limits up to $20,000,000
- Annual minimum premiums – Starting at $1,000 minimum premium per policy if we write the CGL; otherwise, $2,500. The minimum premium for excess Umbrella is $2,500
- Territory – Worldwide territory
- Nil Self-Insured Retention (S.I.R.)
Policy Features
- Coverage for suits brought outside of Canada and the United States
- Broader definitions of “bodily injury,” “personal injury,” and “advertising injury”
- Additional limits mean protection against “worst case” judgments
- Limits “step down” over listed sublimits and “drop down” over uninsured exposures, filling gaps in coverage
Submission Requirements
- A completed Victor Commercial Umbrella Liability application form
- For renewals: Commercial Umbrella Liability renewal application form
- Competitors’ applications will also be accepted