A Manufacturer Wants to Protect the Company from Financial Loss

A manufacturer wants to protect the company from financial loss resulting from third-party lawsuits. The manufacturer has learned of several recent jury awards over $7 million for product defects. The manufacturer currently has only $5 million in this type of coverage. The manufacturer has also learned that several automobile claims have been recently awarded against other company's cars in accidents over $1 million. The manufacturer has damaged his competition and the manufacturer wants to protect his company further than the current policy allows. What insurance coverage product will the manufacturer likely buy?

A) A personal injury protection (PIP) policy to protect others from personal injury
B) An umbrella policy to place a protective umbrella over existing coverage.
C) A surplus lines policy to protect against claims in surplus of the policy limits.
D) A floater policy to float coverage where needed.