Marine Excess Liability – Bumbershoot Insurance by pengxuezhi


									Marine Excess Liability –
Bumbershoot Insurance
A New Marine Solution from Chubb

Our changing world with its inherent risks have created new and complex exposures for companies
both large and small. Maritime risks such as boat builders (commercial and recreational in nature),
boat dealers, marina operators, ship repairers, stevedores, terminal operators, vessel operators,
wharfingers, and yacht clubs need an insurer that has the depth of experience to assess your
Marine Excess Liability needs and create a policy to help protect your assets.

Here are some Features and Benefits of our new Chubb contract.

 Features                                    Benefits

 Simplified policy language and structure     Makes the policy easy to follow and understand.

 Flexibility to write monoline, as well as   Provides the capacity to write over your existing
 supported, policies                         primary program, whether it is with Chubb or not.

 Two separate coverages, tailored to         Offers you a flexible coverage platform to help
 Maritime risks:                             protect against catastrophic liability losses:

 Excess Follow - Form Coverage A             • Affords vertical continuity with your primary

 Umbrella Coverage B                         • Closes gaps in your primary liability program.
                                             • Specifically addresses maritime exposures.
                                             Enables you to construct your liability program with
 Increased limits available.
                                             fewer carriers and promote consistency in your
                                             insurance program.
 Financially solid capacity                  Provides peace of mind that future liability claims
                                             will be met by the insurance you purchase today.
                                             Protects you wherever your operations or products
 Worldwide protection
                                             may be.
 Excess Follow Form application of limits    If there is no primary aggregate limitation, our
 under Coverage A                            policy also will not impose a aggregate.

 Features                                      Benefits

 No self insured retention under Umbrella      Helps protect you from losses not insured by your
 Coverage B                                    primary liability policy.

 No requirement for reinstatement or           Eliminates the necessity and expense of rebuilding
 replacement of eroded or exhausted            your primary insurance program should it be
 primary limits                                eroded or exhausted by losses.

 Drop Down provisions                          • Insurance drops down over eroded or exhausted
                                                 primary limits of insurance
                                               • With Umbrella Coverage B, may afford you
                                                 broader insurance protection than standard
                                                 primary policies.

 Additional Insureds insured in your           Protects persons and organizations who are
 primary insurance are automatically           insureds in primary policies, including joint
 included in the Excess Follow Form            ventures, partnerships and limited liability
 insurance of our policy.                      companies.

 Definition of bodily injury includes           Includes those injuries resulting from physical
 mental anguish, mental injury, shock or       injury.
 humiliation resulting from physical injury.

 Failure to maintain primary insurance, or     The insurance you purchased from us will be
 insolvency of primary insurer, does not       available, as though primary insurance were
 invalidate our policy.                        maintained and collectible.

                                               Chubb refers to the insurers of the Chubb Group of Insurance Companies underwriting coverage.
                                               This literature is descriptive only. Actual coverage is subject to the language of the polcies as issued.

Chubb Group of Insurance Companies                                  Form 12-01-0050 (Ed. 11/10)

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