Common use of Umbrella Liability Clause in Contracts

Umbrella Liability. Commercial Umbrella Liability insurance with coverage at least as broad as the primary coverages set forth above, except Professional Liability, with minimum limits of $2,000,000 per occurrence and $4,000,000 in the aggregate. Such policy shall include the following terms & conditions: A drop-down feature requiring the policy to respond if any primary insurance that would have otherwise applied proves to be uncollectible in whole or in part for any reason; Pay on behalf of wording as opposed to reimbursement; Concurrency of effective dates with primary policies; Policies shall “follow form” to the underlying primary policies; and Insureds under primary policies shall also be insureds under the Umbrella policy with no additional restrictions.

Umbrella Liability. Commercial Umbrella Liability insurance with coverage at least as broad as the primary coverages set forth above, except Professional Liability, with minimum limits of $2,000,000 per occurrence and $4,000,000 in the aggregate. Such policy shall include the following terms & conditions: A drop-down feature requiring the policy to respond if any primary insurance that would have otherwise applied proves to be uncollectible in whole or in part for any reason; Pay on behalf of wording as opposed to reimbursement; Concurrency of effective dates with primary policies; Policies shall “follow form” to the underlying primary policies; and Insureds under primary policies shall also be insureds under the Umbrella policy with no additional restrictions.

Umbrella Liability. Commercial Umbrella Liability insurance with coverage at least as broad as the primary coverages set forth above, except Professional Liability, with minimum limits of $2,000,000 per occurrence and $4,000,000 in the aggregate. Such policy shall include the following terms & conditions: A drop-down feature requiring the policy to respond if any primary insurance that would have otherwise applied proves to be uncollectible in whole or in part for any reason; Pay on behalf of wording as opposed to reimbursement; Concurrency of effective dates with primary policies; Policies shall “follow form” to the underlying primary policies; and Insureds under primary policies shall also be insureds under the Umbrella policy with no additional restrictions.