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lead umbrella

The term lead umbrella refers to the first umbrella policy in a multilayer excess program that sits directly over the primary policies.

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Typically, higher-level excess policies sitting above the lead umbrella in this type of placement contain follow-form provisions making them follow the "lead" of the terms and conditions of the first underlying umbrella.

Related Terms

Follow form is when an umbrella policy provision follows the underlying policy as to how the...

An umbrella liability policy is a policy designed to provide protection against catastrophic losses.