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.
Links for IRMI Online Subscribers Only: