| Product Line: |
Marine & Energy |
| Class: |
Marine Liability |
| Sub Class: |
Marine Umbrella (Bumbershoot) Liability |
| Contact: |
Robert Palmer |
| Coverage: |
Provides excess liability coverage to marine insureds excess of the primary limits of liability policies. |
| Geography: |
Worldwide |
| Paper: |
New York Marine And General Insurance Company
Gotham Insurance Company |
| Typical Insureds: |
Any insured who desires or is contractually required to purchase additional limits in excess of primarily amounts. |
| Underwriting Concerns: |
Description of foreign and domestic operations Receipts, Payroll, Employees, Vehicles, and Loss History Primary Coverages, Carriers, and Premiums With respect to marine liability coverages, the same information that would be considered by a primary underwriter. |
| Tips: |
There has been a proliferation of excess liability forms in recent years. Many coverages are now written on a claims-made basis, and some occurrence forms include claims sunset clauses. Insureds should be aware of exactly what coverage is being offered, with particular attention to retroactive dates, sunset clauses, and restrictive endorsements. |