An interesting case regarding how Global Umbrellas and Local policies do (or don't!) fit together
By on August 27, 2009 10:40 AM
I thought that you may be interested in a case that was heard a few months ago regarding coverage on a Global Umbrella being asked to drop down where the underlying policy was a) wider in certain coverage areas and b) had an aggregate limit in such an area that was exhausted by a claim.
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Tony, good article, thanks. I wouldn't typically expect to to see the local policy being broader than the master (could be an aberration caused by it being the US market) - its a great point about extent of cover though, and also a good point about partial exhaustion of the underlying limit.
cheers,