Umbrella Liability definition

Umbrella Liability. To cover excess liability over several of the insured's primary liability policies. An excess liability policy may be what is called a following form policy, which means it is subject to the same terms as the underlying policies; it may be a self-contained policy, which means it is subject to its own terms only; or it may be a combination of these two types of excess policies. Umbrella policies provide three functions:
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Umbrella Liability coverage for "Personal Injury", "Bodily Injury", "Death and Property Damage", providing in combination no less than $30,000,000 ($50,000,000 during construction) per occurrence and in the annual aggregate, per location (except during construction). In the event that aggregate limits do not apply on a "per location" basis, then the umbrella limit shall be increased from $30,000,000 to $40,000,000. The policies described in this paragraph shall cover, without limitation: elevators, escalators, independent contractors, "Contractual Liability" (covering, to the maximum extent permitted by law, Borrower's obligation to indemnify Lender as required under this Agreement and "Products and Completed Operations Liability" coverage). All liability insurance shall name Lender as "Additional Insured" either on a specific endorsement or under a blanket endorsement satisfactory to Lender.
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Umbrella Liability coverage for "Personal Injury", "Bodily Injury", "Death, Accident and Property Damage", providing in combination no less than $50,000,000 per occurrence and in the annual aggregate, per location. The policies described in this paragraph shall cover, without limitation, elevators, escalators, independent contractors, "Contractual Liability" (covering, to the maximum extent permitted by law, Borrower's obligation to indemnify Lender as required under this Agreement) and "Products and Completed Operations Liability" coverage. All public liability insurance shall name Lender as "Additional Insured" either on a specific endorsement or under a blanket endorsement satisfactory to Lender.
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Examples of Umbrella Liability in a sentence

  • Co. 7/1/05 Excess Worker’s Compensation Employers Reinsurance Corporation 7/1/05 Umbrella Liability National Union fire Ins.

  • Owner/Lessee also agree to maintain Umbrella Liability Policy with a minimum limit of $10,000,000.00.

  • Lessee and/or Owner also agree to maintain Umbrella Liability Policy with a minimum limit of $10,000,000.00.

  • Including Umbrella Liability Insurance, if necessary, limits shall be not less than $2,000,000 per accident for bodily injury and property damage, $5,000,000 if hazardous materials or substances are to be transported.

  • Domestic Commercial General Liability 10CESOA9276 The Hartford (Twin City Fire) Commercial Umbrella Liability AUC591925100 American Guarantee & Liability (Zurich) D & O/EPL 000-00-00 AIG — Illinois National Ins.

  • Umbrella Liability, exclusive of the coverage provided by the policies listed above, with a limit of at least [ * ].

  • Business Auto Liability and Commercial General Liability coverages required under Subparagraph 10.3.1 may be arranged under a single policy for the full limits required or by a combination of underlying policies with the balance provided by Excess and/or Umbrella Liability policies.

  • Tenant shall further maintain, at its sole cost during the term of this Lease Excess or Umbrella Liability insurance with minimum limits of $10 million; naming Landlord as an additional insured.

  • Commercial General Liability Insurance may be arranged under a single policy for the full limits required or by a combination of underlying policies with the balance provided by an Excess or Umbrella Liability policy.

  • Including Umbrella Liability Insurance, if necessary, limits shall be not less than $2,000,000 each occurrence for bodily injury and property damage; $2,000,000 each occurrence and aggregate for products and completed operations; $20,000,000 general aggregate.


More Definitions of Umbrella Liability

Umbrella Liability. With limits of not less than $5,000,000 per occurrence covering all work performed under this contract.” Contractors should investigate and determine they hold the necessary insurance prior to bid submittal.
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Umbrella Liability with a minimum combined single limit of $10,000,000.
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Umbrella Liability. Umbrella Liability insurance in the minimum amount of $10,000,000 for each occurrence and aggregate combined single limit for all liability, with a $10,000 self-insured retention for exposure not covered in underlying primary policies. The Umbrella Liability policy shall name in its underlying schedule the policies of Commercial General Liability, Automobile Vehicle Liability and Employer's Liability under the Workers Compensation Policy.
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Umbrella Liability or "excess liability" insurance (against risks of the types described in clauses (iv), (v) and (vi) above and in excess of the employer's liability insurance described in clause (vii) above) in an amount that results in a combined amount of primary and excess insurance required hereby of not less than $20,000,000 for any occurrence and not less than $20,000,000 in the aggregate, with such increases therein as shall be reasonably requested by Lessor or Agent in consultation with the Insurance Consultant from time to time; and
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Related to Umbrella Liability

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

  • Products Liability means:Your legal liability in respect of Personal Injury and/or Property Damage caused by or arising out of any Products or the reliance upon a representation or warranty made at any time with respect to such products; but only where such Personal Injury and/or Property Damage occurs away from premises owned or leased by or rented to You and after physical possession of such products has been relinquished to others.

  • 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.

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

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

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

  • 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.

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

  • Net Liability as used herein is defined as the Company's gross liability remaining after cessions, if any, to other pro rata reinsurers.

  • Product Liability means any liability, claim or expense, including but not limited to attorneys’ fees and medical expenses, arising in whole or in part out of a breach of any express or implied product warranty by the Company, strict liability in tort, negligent manufacture of product, negligent provision of services, product recall, or any other allegation of liability arising from the design, testing, manufacture, packaging, labeling (including instructions for use), or sale of products.

  • Personal liability means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization:

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • Hovercraft Liability This policy does not cover "hovercraft liability".

  • Product Liabilities means any Liability arising out of, relating to or resulting from actual or alleged harm, injury, damage or death to persons in connection with the use of any product (including in any clinical trial or study);

  • Bodily injury means bodily injury, sickness or disease sustained by a person, including death resulting from any of these at any time.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Liability means any liability or obligation (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether accrued or unaccrued, whether liquidated or unliquidated, and whether due or to become due), including any liability for Taxes.

  • Aircraft Liability This policy does not cover "aircraft liability".

  • UK Bail-in Liability means a liability in respect of which the UK Bail-in Powers may be exercised.

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • Property damage means physical injury to, destruction of, or loss of use of tangible property.

  • Bodily harm means physical pain or injury, illness, or any impairment of physical condition.

  • Umbrella Cash Account means (a) a cash account designated in a particular currency opened

  • Loss in excess of policy limits means 90.0% of any amount paid or payable by the Company in excess of its policy limits, but otherwise within the terms of its policy, such loss in excess of the Company’s policy limits having been incurred because of, but not limited to, failure by the Company to settle within the policy limits or by reason of the Company’s alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of an action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such an action.

  • Accidental Bodily Injury means an Injury sustained as the result of an Accident and independently of all other causes by an outside traumatic event or due to exposure to the elements.

  • Product Liability Claim means a Claim of a Third Party (other than a Claim arising out of use of the Product in a clinical trial) that (i) arises as a result of the use of the Product during the Term that results in personal injury or death or (ii) is in anticipation of or intended to prevent or forestall personal injury or death as a result of the use of the Product during the Term.