Umbrella personal liability policy

 

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Umbrella personal liability policy

A liability insurance policy that provides protection against damages not covered by standard liability policies, such as large jury awards in lawsuits.



Umbrella personal liability policy

Similar Matches

Unlimited liability

Unlimited liability

Full liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability.


Joint and several liability

Joint and several liability

An undertaking by a group of two or more people to be responsible, either individually or jointly, for any liability which may exist after any member or members have failed to meet their obligations. For example if a group of four people enter into a joint and several liability on a bank loan, then in the event of two of the members reneging on their obligations the remaining two members become fully responsible for the repayment of the loan.


Contingent pension liability

Contingent pension liability

Under ERISA, a firm is liable to its pension plan participants for up to 39% of the net worth of the firm.


Joint liability

Joint liability

The responsibility of two or more people to fulfill the terms of a home loan or debt.


Umbrella personal liability insurance

Umbrella personal liability insurance

In the US, liability insurance giving excess cover over and above that cover provided by other policies. For example if general policies give total liability insurance cover of $400,000, an umbrella policy could typically provide cover of $1 million. If a claim of $700,000 were made the umbrella policy would pay out only after the $400,000 has been first exhausted.


Further Suggestions

Funded Liability
joint liability
Lender liability lawsuits
Tax liability
limited liability
Liability
liability insurance
Noncurrent liability
Limited liability
Liability insurance
Contractual liability
Limited liability instrument


 
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