The “Risk Management 101: Umbrella and Excess Insurance Fundamentals” podcast covers how umbrella and excess liability insurance coverage protects businesses from catastrophic risks beyond the limits of their casualty policies.

Among the principal topics we cover are how umbrella and excess liability insurance works and how it complements existing casualty insurance coverage. We discuss:

• The three forms of coverage of a standard excess policy: general liability, auto liability, and employers liability.
• The difference between lead umbrella and excess liability coverage.
• How umbrella and excess liability coverage fits into basic casualty coverage but offers broader coverage and higher limits.
• The role of excess liability in covering large losses such as adverse jury decisions.
• Additional coverages insurable under excess policies, such as pollution coverage.

We also explain how excess liability coverage is triggered, the distinction between claims-made policies and occurrence-based policies, how to determine how much coverage to buy, and how premiums are determined for umbrella and excess liability insurance coverage.

_{About Marsh’s Risk Management and Insurance Podcast}

_{Marsh’s Risk Management and Insurance Podcast series offers insight into the intricacies of the three major lines of commercial insurance coverage. The series features two content tracks on best practices in property, casualty, and financial and professional liability insurance: RM 101 and the more advanced RM 201*. This educational offering is designed to help risk professionals and individuals with risk management and insurance responsibilities gain a fundamental understanding of the major commercial insurance lines and related risk management strategies.}

_{*RM 201 episodes to be released in 2017.}

Read the Transcript.

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