Group Personal Excess Liability

In our litigious society, the liability limits provided by your homeowner and automobile policies may not be adequate to protect your current assets or future income. Personal Excess Liability coverage is a critical component of a personal risk management plan.

FAQ

Why purchase Group Personal Excess Liability?

Litigation is one of the most common causes of personal bankruptcy. The threat posed by a multimillion-dollar legal action is real, and it’s among the biggest risk to financial health. A Group Personal Excess Liability program can provide access to higher limits of coverage at discounted rates since the risk is spread among the group. These rates are less than individual Excess Liability or Umbrella policies.

Are my family members covered?

Yes, your spouse, domestic partner, and any relative who lives with you or any other person who lives with you who is under the age of 25 in your care or your relative’s care who lives with you.

Is coverage provided in the U.S. only?

The Group Personal Excess Liability policy provides worldwide protection. Coverage extends to an unlimited number of vehicles, drivers, homes and recreation vehicles, subject to policy exceptions or restrictions.

What are the minimum limits that I must maintain for my primary coverage?

The Group Personal Excess Liability coverage assumes you carry the following primary insurance and pays only after your primary insurance policy limits are exhausted. It is essential to check your primary policy limits to avoid a gap in coverage.

Coverage	Underlying Requirement
Personal Liability (Homeowners)	$300,000
Registered Vehicles and Uninsured Motorist Protection	$250,000 per person $500,000 per occurrence $100,000 property damage Or $300,000 combined single limit
Unregistered Recreational Vehicles	$300,000 per occurrence
Owned Watercraft Under 26 feet long and less than 50 hp Over 26 feet long or over 50 hp	$300,000 per occurrence $500,000 per occurrence

What happens if I do not maintain the required underlying limits?

You would self-insure or be uninsured for the gap between the limits carried and the required underlying limit.

We own a secondary residential property, are these locations covered?

Additional residential properties are covered under the Personal Excess Liability and are required to maintain primary Personal Liability coverage.

What is Excess Uninsured / Underinsured Motorists coverage?

Excess Uninsured / Underinsured Motorist protects you against the risk of injury by a motorist who failed to carry any liability insurance or who did not carry enough liability insurance to cover the severity of a claimant’s injuries. By obtaining coverage under an Excess policy it increases the limit available should the primary auto limit become exhausted due to the severity of a loss.

Is owned or rented aircraft covered?

No. Coverage is not provided for the ownership, maintenance, or use of any aircraft.

What is Employment Practices Liability Insurance (EPLI)?

EPLI provides coverage to employers against claims made by employees alleging discrimination, wrongful termination or harassment. In Personal Risk this coverage is designed to protect clients who employ household staff, housekeepers, nannies, landscapers, caretakers, etc. EPLI is an optional coverage under Group Personal Excess Liability.

Can coverage be converted to an individual Excess Liability or Umbrella policy if I leave my employer?

No. The policy is not convertible to an individual policy. A participant would have to replace coverage on an individual basis. The policy is subject to cancellation upon an employee’s termination and no renewal coverage will be offered.