Excess liability insurance (ELI), more commonly known as umbrella insurance, is one of the most important types of insurance your company can buy.

It protects your business from holes or limits in existing policy coverage as well as from financially draining lawsuits. Just as you carry an umbrella to protect you from a potential downpour, ELI protects your company from the types of claims that could close your business.

To assist with the financial burden of a claim, many business owners are electing to purchase commercial umbrella insurance on top of their standard commercial general liability (CGL) Insurance policies. An aggregate limit is established on most CGL policies that, once exhausted, will not cover any other excess claims. Umbrella coverage is designed to protect […]