Common use of Umbrella Liability Insurance Clause in Contracts

Umbrella Liability Insurance. Grant Recipient shall obtain, pay for and maintain umbrella liability insurance during the Contract term, insuring Grant Recipient for an amount of not less than amount $2,000,000 that provides coverage at least as broad as and applies in excess and follows form of the primary liability coverages required hereinabove. The policy shall provide “drop down” coverage where underlying primary insurance coverage limits are insufficient or exhausted.