Chubb excess liability insurance
An excess layer increases the sum insured above your existing policy. What it does not do is widen the cover: where the underlying policy does not pay, the excess layer does not pay either.
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In brief
Excess layer insurance comes into the picture when the sum insured on your public and employers' liability insurance no longer matches the risk: injury to several people at once, loss in a production chain or a claim from abroad. The excess layer only starts to pay once the underlying layer has been paid out in full. Up to that point it does nothing, not even in handling the case.
The key concept is connection. An excess layer in principle follows the conditions of the primary policy: the same description of cover, the same exclusions, the same group of insured parties. If the upper layer departs from that, a gap arises precisely where you cannot see it. If you change the underlying policy or move it to another insurer, tell the excess layer insurer at once, because they based their cover on the policy as it stood when it was placed.
Also note the policy periods. If the two policies do not run together, expiry dates, aggregates and notification years can diverge and a claim can fall on the primary layer in one contract year and on the excess layer in another. In a claims-made structure, as with a professional indemnity insurance, the retroactive date and the run-off period of both layers also have to be the same.
This page deals with one situation. The full overview is on Compare personal liability insurance (AVP).
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What to look out for
Four points that determine whether the upper layer really responds to a large loss.
The excess layer does not widen the cover
Everything the primary policy excludes is also excluded on the excess layer: pure financial loss, property in your care, custody and control, the cost of the your own product or work, fines and penalty payments and intent (Article 7:952 of the Dutch Civil Code). Anyone who wants an exclusion removed has to arrange that in the underlying policy. A higher layer does not solve it.
Exhaustion of the underlying layer
The excess layer only responds once the primary cover has been exhausted by losses paid. If you pay part yourself, for instance in a dispute with the primary insurer or a settlement outside that policy, the excess layer does not automatically step into its place. Read the provision on exhaustion and on drop down carefully.
Sub-limits in the primary policy
If the underlying policy has a lower sub-limit for, say, environmental damage or employers' liability, the excess layer usually attaches at the full sum insured and not at that sub-limit. Between the sub-limit and the attachment point there is then a gap you bear yourself. This is one of the most commonly missed points when building layers.
Defence costs and the aggregate
On the primary policy, defence costs often fall within the sum insured. That layer is therefore exhausted more quickly than expected, but those costs do count towards the attachment point. Also check whether the excess layer's aggregate applies per year and whether both layers use the same year. Report a claim under Article 7:941 of the Dutch Civil Code to both insurers.
What does your premium depend on?
- Size of the underlying cover: the higher the attachment point, the lower the excess layer premium
- Extra capacity requested: the size of the upper layer
- Business activity: the chance of a loss that exceeds the primary layer
- Area of cover: claims from the US and Canada weigh heavily
- Conditions of the primary policy: the excess layer follows them and therefore assesses them too
- Claims record: above all the size of earlier large losses
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | Primary policy | Excess layer |
|---|---|---|
| A loss stays well below the sum insured on your current liability policy | Yes | No |
| In an explosion five local residents are injured and the total loss exceeds your current limit | Yes | Yes |
| The primary insurer runs into financial difficulty and does not pay its share | No | No |
| A claim is reported about a mistake made three years ago, shortly after the upper layer started | Provided that | Provided that |
| You move to another primary insurer halfway through the year without reporting it | Yes | No |
| A second large claim in the same year, after the annual maximum on the layer below has already been used up | No | Yes |
The upper layer is an increase in the amount, not a second chance at a rejected claim.
Frequently asked questions
This is what people ask us most.
When do I need an excess layer?
When a realistic worst case exceeds the sum insured on your current policy. Think of injury to several people, loss along a chain of customers or a claim in a country with higher awards. Clients also sometimes set a minimum cover as a condition of contract. An excess layer is then the cheapest route to that level.
Is it not simpler to increase the sum insured?
Often it is, and that is the first question we ask. It is just that insurers are not always willing to put unlimited capacity on one policy, certainly with certain activities or an adverse claims record. A second layer with another insurer is then the practical solution, with the point to watch being that the conditions of both layers fit together.
Who handles the claim?
As long as the claim stays within the primary layer, that insurer handles it and conducts the defence. The excess layer insurer follows at a distance and usually wants to be informed as soon as it is clear that the loss may reach its layer. So report early, even if the size is still uncertain; waiting until the amount is settled is too late.
What if I move my primary policy to another insurer?
Report it before you switch. The excess layer was granted on the basis of the conditions of the existing underlying policy. If the new policy differs in its description of cover, group of insured parties, excess or policy period, the upper layer no longer attaches and the excess layer insurer can refuse cover or adjust the conditions.
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