Zurich North America Commercial launches enhanced Umbrella Liability Policy

Zurich, one of the largest property and casualty insurers globally and in North America, introduces an enhanced Umbrella Liability Policy.

In addition to the existing “Coverage A/Coverage B” form, which blends follow form excess insurance with umbrella coverage, Zurich now offers “Coverage C” Casualty Business Crisis Expense, which covers reputational risks and related issues. Previously available to customers as an endorsement, “Coverage C” is now added to every Umbrella Liability Policy, with a limit of $250,000.

Enhancements that were formerly available only by endorsement are now built into the policy form, including:

• Built-in flexibility to go over either underlying Defense within the limits or Defense in addition to the limits policies
• Reduction in mandatory endorsements by building in the Umbrella Amendatory Endorsement and Violation of Statutes Exclusion
• Built-in frequently requested enhancements, including: Knowledge of Occurrence; Notice of Occurrence inadvertent reporting does not invalidate coverage; Unintentional E&O, and clarification of the Waiver of Subrogation
• Elimination of short-rate cancellation provision, regardless of who requests cancellation
• A 90-day notice of cancellation for other than nonpayment of premium
• A 30-day notice for non-renewal
• Other Insurance is amended for Coverage A to be primary noncontributory for limits agreed to in a written contract

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