COMMERCIAL LIABILITY UMBRELLA by ProQuest

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The Insurance Services Office Commercial Liability Umbrella is a stand-alone form having its own coverage, exclusions and conditions. It provides excess limits over General Liability, Automobile Liability, Employers Liability and other underlying liability coverage forms or policies. Underwriting a given umbrella risk takes a number of issues into account. In some cases, underwriting may be done rather quickly, because the umbrella is usually placed after the primary coverages are arranged. On the other hand, underwriting must be thorough because of the limits involved. Umbrellas written over another carrier's underlying policies must take into account the underlying carrier's financial solvency. This is because the umbrella carrier assumes the defense if the underlying carrier cannot, in its effort to keep a claim from penetrating into the umbrella layer.

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