Excess Malpractice and Professional Liability

Excess coverage for doctors, other professionals, hospitals, and businesses is available over primary coverage, self-insured plans, captive plans, and Joint Underwriting Associations (JUAs). A number of specialty carriers offer professional liability coverage on a straight excess basis over and above the primary limits that the underlying coverage provides. Coverage is written on a following form or a claims-made basis over … Read More

Bumbershoot Liability

This is a special form of umbrella liability designed for marine accounts that operate vessels or use docks. It covers protection and indemnity, general average, collision, salvage charges, sue and labor, and all other legal and contractual liability. It also covers employers liability; liability under admiralty laws and the Longshore and Harbor Workers Compensation Act; automobile liability; and general liability.

Excess Marine Liability

Excess limits over primary marine liability limits is needed because of the trend toward larger suits and higher settlements. Marine employers’ liability and commercial general liability limits on policies for marine businesses, such as boat builders and repairers, marine contractors, dredgers, and other vessel services, can be extended by using specialty markets that write excess marine liability limits. Liability coverages … Read More

Excess Maritime Employers Liability

Employers liability for maritime risks usually falls under the jurisdiction of either the United States Longshore and Harbor Workers Compensation Act (USL&HWCA) or admiralty jurisdiction via the Jones Act. Coverage for workers involved in offshore oil drilling, marine diving or dredging, employed on fishing vessels, or serving as crew members on tugs, barges, ferries, scows, work boats, and pleasure yachts … Read More

Excess Flood Insurance

This coverage is written as excess coverage over the National Flood Insurance Program (NFIP) on a following form basis. It triggers when the NFIP limits are exhausted. It is available countrywide for both residential and commercial properties that meet certain underwriting eligibility.D569

Excess Property

Excess or layered property insurance may be written on any large commercial property account. This layering approach works well when the same entity owns multiple locations. Layering often starts with a primary coverage equal to the probable maximum loss (PML) followed by additional layers at a fraction of the primary layer’s cost. The farther away the layer is from the … Read More

Buffer Layer Liability

Buffer layer insurance may be needed to increase the primary underlying limits to meet the umbrella or excess carrier’s underlying limits requirements when excess and umbrella liability market conditions are tight.

Terrorism Coverage

The market for terrorism coverage changed dramatically on September 11, 2001. Coverage availability and pricing varies significantly, based on geographic location and type of industry.

Capacity or Excess Property Insurance

When a single company cannot provide the property coverage needed for a particular risk, coverage can be shared proportionally with another carrier or on an excess basis. With excess coverage, the additional company or companies do not respond until their specific layer is penetrated. As a result, pricing at the primary levels takes loss frequency into consideration while excess layers … Read More

Workers Compensation Excess Insurance

This coverage is an important part of any self-insured workers compensation program. The insured first must qualify as a self-insurer and then post the required bond with the state industrial commission. Because loss experience can be unpredictable, the insured purchases excess insurance that triggers above a specified retention level. The excess insurance carrier pays losses above the insured’s retention up … Read More