Excess Liability Insurance Coverage Solutions
To obtain quotes for Commercial Excess Liability Insurance
We will need the following information:
- Business Information: Name, address, and contact details of the business.
- Operational Details: A description of your business operations, including the nature of your business, typical activities, and any hazardous materials or high-risk processes involved.
- Underlying Limits and Policies: Information about underlying liability policies, including their limits and coverages.
- Claims History: Details of any previous liability claims or losses experienced by the business.
- Coverage Needs: Specific excess liability coverage limits you are seeking above your existing policies.
Our Commercial Excess Liability Coverage Application Process
Please note that the following is a comprehensive application process, distinct from the initial quote request at the top of the page. The quote request is a preliminary step to initiate conversation, while the below link is a detailed application which is essential for proceeding with your coverage options.
Providing this information now, if you have the time, will expedite the entire process. Completing this detailed application is beneficial for a swift and efficient assessment of your needs, regardless of whether you've opted for a direct conversation initially. We appreciate your effort in filling out this application to help us serve you better and faster.
As always, we will need your loss history, so please note that included in the Indio portal below you will find a “Loss Runs Request” document and a “No Known Loss Letter” document should these be applicable to you, then they are needed!
Any questions please let us know, services@iwp.agency.
Please complete, sign, and submit back to our office these documents via our secure online Indio portal, linked provided below.
Understanding Excess Liability Insurance
Excess Liability Insurance Policy
An Excess Liability Insurance Policy, also known as "umbrella" insurance, provides additional coverage beyond the limits of the insured's underlying policies. It is designed to help protect against potentially catastrophic liability claims that exceed the limits of primary liability coverage. This type of policy is crucial for managing risks that involve large financial consequences beyond typical coverage caps.
Scope of Coverage:
Excess liability insurance typically extends the limits of primary policies such as general liability, auto liability, and employers' liability insurance.
It activates when the limits of the underlying policies are exhausted.
Coverage Extensions:
Certain policies might extend coverage to claims that are not included in underlying policies, subject to the insurer's written consent.
Technical Details of Coverage Exclusions
Expected or Intended Injury: Damage or injuries that were expected or intended by the insured are typically excluded.
Contractual Liabilities: Liabilities that arise from contracts where the insured has assumed liability are generally excluded unless such liability would have attached in the absence of the contract.
Employers' Liability: Claims related to employment practices are not usually covered under standard excess liability policies.
Professional Liabilities: Professional services or errors and omissions are not covered under general excess liability policies and require separate professional liability insurance.
Pollution: Unless specifically added, claims arising from pollution are typically excluded.
Aircraft, Auto, and Watercraft: Claims involving these vehicles are excluded if they are not covered under the underlying insurance.
Interaction with Underlying Policies
Underlying Insurance Requirements: Excess policies often require the insured to maintain predetermined limits of underlying insurance. Failure to maintain these limits can result in penalties or reductions in coverage.
Self-Insured Retention (SIR): For areas not covered by underlying policies, the insured may need to pay a designated amount (SIR) before the excess coverage responds.
Claims Handling
Defense Costs: Excess policies often include defense costs over and above the limit of liability; however, this varies by the specific terms of the policy.
Settlement and Consent: Typically, the excess insurer has the right to participate in the defense and settlement of claims, but may not have the obligation to do so.
ISO Commercial Lines Property Policy in Texas
The ISO Commercial Lines Property Policy, often employed in Texas, provides detailed standard coverage for commercial properties. This includes coverage for the buildings, personal property, and the loss of business income due to covered perils.