Group Personal Excess Liability
Group Personal Excess Liability Insurance is a comprehensive benefit for key personnel, managers, and employees. Group Personal Excess Liability provides up to $50,000,000 personal liability coverage for each employee in a defined group, and helps to assure that the most valued staff members’ personal assets are protected. In addition, it awards a cost-competitive insurance product to valued employees. Group Personal Excess Liability Insurance is a true “group” policy; the insurance company will not individually underwrite or decline any individual in the designated group.
Benefits of Group Personal Excess Liability insurance
- Group Personal Excess Liability coverage is more affordable than if purchased individually
- Employees can secure a higher limit of liability insurance under a Group policy than they might be eligible for individually
- The Uninsured/Underinsured Motorist limits available are higher than available to individuals (up to $5 million)
- The limits of coverage and policy structure can be designed so that different classes of employees receive different limits
- Choose one limit of coverage for all employees, or
- Choose two or more limits for designated groups of employees
Minimum Requirements:
- $15,000 minimum premium
- Eligibility determined by headquarters of company/firm/association
- Mandatory programs require minimum of 10 participants
- Voluntary programs require minimum of 50 eligible participants (subject to participation requirements)
- For groups with less than 25 participants, each participant must fill out individual questionnaire
Sample Group Excess vs. Individual Coverage & Premium Comparison
Click here for video overview of product
Contact:
Fred Gaston
P: 914-864-1168
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