There’s no easy answer to that question. But if you are sued for more liability coverage than you carry, your assets could be seized.
Commercial Umbrella Liability is a broad, flexible, high limit liability coverage designed to supplement your operation’s primary liability protection. This type of policy is designed to accomplish three major functions with the net effect being to create an “Umbrella” of blanket catastrophe excess protection.
Once the primary limits are reached in a lawsuit, the courts will order corporate assets to be seized in order to pay for the balance of a claim. This is where Commercial Umbrella Liability provides vital protection.
Ask us about an Umbrella protection before renewing your commercial insurance program. You may be pleasantly surprised at how a properly constructed liability insurance program can provide you with better protection, allowing you to proceed knowing your firm is properly protected against injury and property damage lawsuits.