Excess Liability

Coverage that applies on top of underlying insurance that is primary, i.e., that pays until its coverage limit is exhausted at which point the excess coverage takes over.  For instance, the standard General Liability (GL) policy for a contractor is $1 million per occurrence and $2 million aggregate.  You might be asked to bid on a job that requires $4 million for that particular project. Therefore, you will need to purchase an excess policy in the amount of $3 million.  The carrier offering the Excess coverage will want to know the information about your underlying $1 million policy. Some underlying GL policies don’t have any excess carriers willing to write excess over their policies.  Unless it is specifically excluded, an excess policy is typically over both your GL and your auto policy.

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