Umbrella Liability: Is The ALIGNED Term Of The Day

Are you constructing your dream home or undertaking a significant renovation of your residential or commercial property? Safeguard your vision with Builder’s Risk Insurance. This coverage ensures your project is protected during the construction phase and offers peace of mind for your developing dream home or space.

Umbrella Liability Insurance Explained

An umbrella liability policy is designed to provide protection against catastrophic losses. It generally is written over various primary liability policies, such as the business auto policy (BAP), commercial general liability (CGL) policy, watercraft and aircraft liability policies and employers liability coverage.

The umbrella liability policy serves three purposes:

  1. It provides excess limits when the limits of underlying liability policies are exhausted by the payment of claims;
  2. It drops down and picks up where the underlying policy leaves off when the aggregate limit of the underlying policy in question is exhausted by the payment of claims; and
  3. It provides protection against some claims not covered by the underlying policies, subject to the assumption by the named insured of a self-insured retention (SIR)

About ALIGNED 

ALIGNED specializes in delivering insurance and risk management solutions exclusively to Canadian businesses. Through our 18 points of differentiation and expertise, we deliver unmatched value to our growing portfolio of clients from all industries that range from small to large organizations. We offer all of the following management liability products:

  • Board Insurance / Directors and Officers (D&O) Insurance
  • Employment Practices Liability (EPL) Insurance
  • Fiduciary Liability Insurance
    Other:
  • Property Insurance – including Business Interruption & Extra Expense
  • Machinery Breakdown / Boiler & Machinery Insurance
  • Course of Construction (COC)
  • Wrap-up Liability Insurance
  • Commercial General Liability / CGL Insurance
  • Pollution Liability Insurance
  • Commercial Automobile & Fleet Insurance
  • Umbrella Liability Insurance
  • Cyber, Hacking & Privacy Liability Insurance
  • Crime / Fidelity / Employee Theft Insurance
  • Professional Liability / Errors & Omissions (E&O) Insurance
  • Kidnap & Ransom Insurance
  • Representations & Warranty Insurance
  • Trade Credit
  • Surety & Bonding
ALIGNED Across Canada   100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.

 

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