Umbrella Liability Insurance definition

Umbrella Liability Insurance. The Developer shall procure and maintain during the life of this Agreement five million dollars ($5,000,000) for bodily injury, personal injury and property damage in excess of coverage carried for Employer’s Liability, Commercial General Liability and Motor Vehicle Liability as described above.
Umbrella Liability Insurance means a coverage basically affording high limit coverage in excess of the limits of the primary policies as well as additional liability coverages. These additional coverages are usually subject to a substantial self-insured retention. The term "umbrella" is derived from the fact that it is a separate policy over and above any other basic liability policies the insured may have.
Umbrella Liability Insurance. An umbrella (over primary) or excess policy may be used to comply with limits or other primary coverage requirements. When used, the umbrella policy shall apply to bodily injury/property damage, personal injury/advertising injury and shall include a “dropdownprovision providing primary coverage for any liability not covered by the primary policy. The coverage shall also apply to automobile liability.

Examples of Umbrella Liability Insurance in a sentence

  • The Contractor shall provide a Commercial Umbrella Liability Insurance to provide excess coverage above the Commercial General Liability, Commercial Business Automobile Liability and the Workers' Compensation and Employers' Liability to satisfy the minimum limits set forth herein.

  • The Contractor shall provide a Commercial Umbrella Liability Insurance to provide excess coverage above the Commercial General Liability, Commercial Business Automobile Liability and the Workers’ Compensation and Employers’ Liability to satisfy the minimum limits set forth herein.

  • The required limits may be provided by a combination of General Liability Insurance and Commercial Excess or Commercial Umbrella Liability Insurance.

  • Excess or Umbrella Liability Insurance (Over Primary) if used to meet limit requirements, shall provide coverage at least as broad as specified for the underlying coverages.

  • Contractor waives all rights against County of Washington and its agents, officers, directors, and employees for recovery of damages to the extent these damages are covered by the Commercial General Liability, Automobile Liability, or Umbrella Liability Insurance maintained pursuant to previous paragraph of this agreement.

  • Additional Requirements for Commercial Business Automobile Liability Insurance are shown below at Paragraph Commercial Umbrella Liability Insurance.

  • The umbrella coverage shall follow form with the Umbrella limits required as follows: For Contract Amounts Less For Contract Amounts Equal to or Than $5,000,000.00: Greater than $5,000,000: $ 2,000,000 per Occurrence $2,000,000 per Occurrence $ 4,000,000 Aggregate $10,000,000 Aggregate Additional Requirements for Commercial Umbrella Liability Insurance are shown below at Paragraph

  • Excess and/or Umbrella Liability Insurance with a limit of liability of not less than twenty million dollars ($20,000,000) per occurrence.

  • Excess and/or Umbrella Liability Insurance with a limit of liability of not less than twenty million dollars ($20,000,000.00) per occurrence.

  • Umbrella Liability Insurance: It is required that an umbrella policy be written for a minimum of $2,000,000 for bodily injury and property damage.

More Definitions of Umbrella Liability Insurance

Umbrella Liability Insurance. Shall have a minimum limit of $1,000,000 each occurrence and $1,000,000 aggregate limit, with a retention no greater than $10,000. PROPERTY INSURANCE: It is agreed that IC shall purchase and maintain property insurance for material and equipment stored off-site, in transit, and/or used and left at the job site. IC waives all rights of subrogation against NATIVE for loss of or damage to IC’s work, tools, machinery, equipment, materials or supplies. WAIVER OF SUBROGATION: IC shall obtain from each of its Insurers a waiver of subrogation on Commercial General Liability and Workers' Compensation in favor of NATIVE with respect to losses arising out of or in connection with the performance of certain tasks. IC will obtain evidence of equivalent insurance coverage from each of IC’s Subcontractors or Suppliers, if any, before permitting them on the site of the project. Otherwise, the insurance protection for IC’s Subcontractors or Suppliers must be included within IC’s insurance policies. It is understood and agreed that the insurance coverages and limits required above shall not limit the extent of IC’s responsibilities and liabilities specified within the Contract Documents or by law. It is understood and agreed that authorization is hereby granted to NATIVE to withhold payments to IC until a properly executed Certificate of Insurance providing insurance as required herein and accompanied by a signed subcontract or purchase order are received. IC’s obligations within this Contract shall not be altered or relieved by IC’s failure to provide the coverages required by this Contract.

Related to Umbrella Liability Insurance

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Professional liability insurance means insurance against legal liability incident to the practice of a profession and provision of a professional service.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • indemnity insurance means insurance against personal liability incurred by any Trustee for an act or omission which is or is alleged to be a breach of trust or breach of duty, unless the Trustee concerned knew that, or was reckless whether, the act or omission was a breach of trust or breach of duty;

  • Property Insurance is defined in Section 6.10(a).

  • General Liability means:Your legal liability in respect of Personal Injury and/or Property Damage and/or Advertising Injury caused by or arising out of an Occurrence happening in connection with the Business other than Products Liability.

  • First party insurance means an insurance policy or contract in which the insurer

  • Property Insured means Specified Items and/or Unspecified Items listed on the current Schedule under the General Property cover section.

  • Casualty insurance means liability insurance.

  • General Liabilities shall have the meaning given it in Article III, Section 6(b) of this Declaration Trust;

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Credit property insurance means insurance:

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Co-insurance means the portion of the carrier's allowable charge for the covered item or service

  • group insurance means insurance other than creditor’s group insurance and family insurance, whereby the lives or well-being, or the lives and well-being, of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Property Insurance Proceeds Proceeds of any title policy, hazard policy or other insurance policy covering a Mortgage Loan, to the extent such proceeds are received by the Servicer and are not to be applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the Servicer's servicing procedures, subject to the terms and conditions of the related Mortgage Note and Mortgage.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Excess Insurance means insurance purchased from an insurance company authorized or admitted in the State of New Jersey or deemed eligible by the Commissioner as a surplus lines insurer or from any other entity authorized to provide said coverage in this state pursuant to law, covering losses in excess of an amount set forth in insurance contracts on a specific occurrence, or per accident or annual aggregate basis.

  • Lot coverage means the total area of those portions of a lot that are covered by buildings or structures divided by the area of the lot, and for this purpose the area of a lot that is covered by a roofed building or structure is measured to the drip line of the roof and "structures" includes asphalt and concrete paving.

  • Primary insurance means the policies listed in this policy’s Umbrella Schedule.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Blanket insurance policy means a group policy covering a defined class of