Excess and Umbrella are two different types of insurance coverage for the liability of a commercial venture above a specific amount set forth in a basic policy issued by the primary insurer or a self-insurer for losses over a stated amount. They can also provide coverage for a self-insurer for known or unknown gaps in basic coverages or self-insured retentions. The insurance increases the limits of the underlying policy. The coverage is often purchased because of FMCSA regulations, contractual demands of a shipper, or in order to provide higher limits to more adequately insure a trucking company.
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