A Bumbershoot Liability policy offers policyholders greater financial protection and peace of mind should they suffer a catastrophic loss or lawsuit. Bumbershoot Liability insurance is like a Commercial Umbrella Liability policy but specifically designed for marine-related operations. The policy may also include non-marine risks.
Once coverage has been exhausted, the Bumbershoot Liability policy provides coverage over and above various underlying marine insurance policies such as Marine General Liability, Marine Employer’s Liability, Protection & Indemnity (P&I), among other marine insurance policies. A Bumbershoot Liability policy can cover excess claims for third-party bodily injury and property damage, pollution liability, wreck removal costs, collision liability, and excess employer’s liability. Associated legal expenses resulting from a covered event can also be included.