Umbrella Policy Clause Samples
An Umbrella Policy clause defines the requirement for a party to maintain an umbrella or excess liability insurance policy that provides additional coverage beyond the limits of standard liability policies. This clause typically applies to situations where the risks involved may exceed the coverage provided by general liability, auto liability, or employer’s liability insurance. For example, it may require a contractor to carry an umbrella policy to cover large claims that surpass their primary insurance limits. The core function of this clause is to ensure that sufficient financial protection is in place to cover significant losses, thereby reducing the risk of inadequate insurance coverage for all parties involved.
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Umbrella Policy. The required coverages may be in any combination of primary, excess, and umbrella policies. Any excess or umbrella policy must provide excess coverage over underlying insurance on a following-form basis such that when any loss covered by the primary policy exceeds the limits under the primary policy, the excess or umbrella policy becomes effective to cover such loss.
Umbrella Policy. If the general aggregate limit for Commercial General Liability coverage provided is less than $2,000,000, pursuant to Section 11(B)(i) above, then a $2,000,000 Umbrella Policy shall also be provided which policy shall follow all required coverages as set forth above, other than Worker’s Compensation and Professional Liability coverages.
Umbrella Policy. Tenant may satisfy such insurance requirements by including the Premises in a so-called “blanket” and/or “umbrella” insurance policy, provided that the amount of coverage allocated to the Premises shall fulfill the requirements set forth herein. Tenant’s commercial general liability insurance policy shall be written on an “occurrence” basis, and shall be in at least the amounts of the General Liability Insurance specified in Section 1.1 or such greater amounts as Landlord in its reasonable discretion shall from time to time request.
Umbrella Policy. Manager shall have an umbrella policy in place to provide at least $1,000,000 in additional coverage limits for the work being performed under this Agreement. The umbrella should be placed over the General Liability/Products Liability, Employers Liability and Automobile Liability.
Umbrella Policy. An additional $5,000,000 Excess Liability Insurance policy must be maintained over the General Liability coverage and must, at a minimum, include coverage for the exposures set forth in Section 7.1.
Umbrella Policy. An umbrella policy with limits of no less than $5,000,000 will be in place and will include all the above listed primary policies.
Umbrella Policy. Excess (Umbrella) Liability Insurance for the mutual benefit of all Unit Owners and the Corporation and the Corporation's directors, officers, agents and employees as named insureds shall at all times be maintained under a policy(ies) (or policies issued in layers) which shall follow all terms and conditions of, and be no less comprehensive as to coverage than, the primary insurance specified in Section 8.03(c); such policy(ies) shall, when combined with the aforesaid primary policy, produce a total single limit of liability not less than Ten million dollars ($10,000,000). The policy will schedule the primary liability policy, as well as the employer's liability section of the Workers' Compensation policy, as underlying insurance.
Umbrella Policy. Bodily injury and property damage liability with limits of One Million Dollars ($1,000,000) each occurrence and an aggregate limit of One Million Dollars ($1,000,000). Excess coverage over the policies as follows: Commercial General Liability Business Automobile Liability City shall be listed as an additional insured.
Umbrella Policy. An Umbrella or Excess Liability insurance policy may be used to supplement the Contractor’s primary policy limits to satisfy the full policy limits required by the Contract. The Board of Trustees of the Minnesota State Colleges and Universities and its officers and members, to include the Project’s College or University, the State of Minnesota, officers and employees of the State of Minnesota, named as an Additional Insured, to the fullest extent permitted by law, for claims arising out of the Contractor’s negligence or the negligence of those for whom the Contractor is responsible for both ongoing and completed operations.
Umbrella Policy. The required coverage may be in the form of an umbrella policy above $5,000,000 primary coverage. All umbrella policies must provide excess coverage over underlying insurance on a following-form basis so that, when any loss covered by the primary policy exceeds the limits under the primary policy, the excess or umbrella policy becomes effective to cover that loss.