Excess Layer Insurance
Excess layer (aka Excess of Loss) insurance is when one insurer provides insurance for the first part of a claim/loss and then another insurer provides insurance for the next part of the claim/loss. The insurance for the “next part of the claim/loss” is referred to as the Excess Layer.
ABC Insurance provides a $5m limit but is unwilling to provide a higher limit
XYZ Insurance offers to provide the next $5m of insurance
If the Insured has a $6m claim then ABC pays $5m and XYZ pays $1m
FTA is able to provide excess layer insurance and has a follow form wording for use in such circumstances.
FTA provides excess layer insurance for:
D&O insurance – Private companies only
Our Appetite & Needs
To provide terms for Excess Layers FTA will need a copy of the primary quote
or terms if it is a mid term purchase and the proposal form. The primary
wording is also helpful too.
FTA can consider most professions on an excess layer basis
but we decline solicitors, valuers (for mortgage purposes), financial planners and engineers
Management Liability or Private company D&O
FTA can consider FTA can consider most white collar professions, associations and sports associations
but we decline blue collar industries
FTA can accommodate a very wide range of professions and industries
but no gambling or cryptocurrencies
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