layering
The building of a program of insurance coverage using the excess of loss
approach. Layered programs involve a series of insurers writing coverage, each
one in excess of lower limits written by other insurers. Umbrella liability
coverage is frequently structured in this manner, whereby a number of umbrella
insurers write coverage at various levels, on an excess of loss basis, ultimately
providing an insured with a high total limit of coverage.
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CLI XII.B