Group Umbrella Insurance

Group Umbrella Policies are sometimes called Group Personal Excess Liability Insurance. These policies are common within companies with high-income executive teams. It offers comprehensive benefits for key personnel, managers, and employees.

Enrollment is voluntary. There is no waiting period and new employees are covered as soon as they enroll. Law firms, financial institutions and insurance companies tend to favor these policies. The policy extends personal and auto liability coverage worldwide, and includes spouses and dependents.

A group umbrella policy is beneficial because it provides greater coverage at a lower cost. It’s also easier to get coverage, as the insurer will not individually underwrite or decline any individual in the group. It’s also less expensive than purchasing individual policies for each employee.