Excess layer cover is a policy designed to provide increased limits of liability over your primary insurance cover.
Example:
A Roofing company has £2,000,000 Public Liability, they have requested cover for £5,000,000 for a contract they are starting.
Excess layer will provide the £3,000,000 over £2,000,000 to give a total of £5,000,000"
Example phase from an insurance policy:
Combined single limit bodily injury, property damages losses up to USD 20M any one occurrence and in the aggregate in excess of a primary layer of USD 40M....
In above example aggregate value of the insurance policy is 20M+40M=60M
Source: http://www.scruttonblandinsurance.co.uk/liability/excess_layer.php
Tuesday, 18 October 2016
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment