Which of the following statements about the typical commercial umbrella policy is (are)true?
I.The policy is designed to cover only those loss exposures specifically excluded by the underlying insurance contracts.
II.The policy is excess over the required underlying coverages.

Question

Quizplus · Accepted Answer

The statement that is true about the typical commercial umbrella policy is only II. The policy is designed to provide excess coverage over the required underlying coverages, not just cover those loss exposures that are specifically excluded.

Which of the Following Statements About the Typical Commercial Umbrella