Corporate coverage
Umbrella Coverage
Extra liability limits for your company.
Corporate umbrella liability that covers your company itself (the business, its owners and officers): extra limits above your scheduled underlying liability policies, such as General Liability, auto or Hired & Non-Owned Auto, and employers' liability. It needs General Liability underneath. Offered through Parallax Insurance Services and placed with Corgi Insurance. Subject to underwriting; terms per the policy form.
What your company gets
Placed with Corgi Insurance.
Underwritten by Technology Risk Retention Group.
Up to $5M in extra limits.
Per occurrence, above your company's own policies.
$0 retention.
No out-of-pocket share per occurrence.
Defense outside the limit.
Legal costs don't reduce your umbrella limit.
Drop-down coverage.
Steps in when an underlying aggregate limit is used up by covered claims.
Above your scheduled policies.
Sits over the underlying liability policies listed on it, with its own exclusions.
Maximize your umbrella limit
Start at $1M, or step up from $2M to $5M as contracts and exposure grow.
Starting limit
$1M per occurrence.
Higher limits
$2M to $5M per occurrence.
Retention
$0 per occurrence.
Why you need it
Your company is the insured.
The policy names your business, not your contractors.
Room for large claims.
Adds limits once an underlying limit is used up on a covered claim.
It's your company's policy.
Held by the business, separate from the coverage your contractors carry.
How it works
- 1
Apply
Complete the application with your business details. Most quotes return in a few days.
- 2
Sign
Sign the application by DocuSign as soon as you submit, so it's ready when your pricing comes back.
- 3
Bind
Once your pricing is confirmed, pay through the secure payment link your specialist sends and your policy binds. No recurring reporting is needed.
- 4
Claims
Submit the claim to GigSafe. Report claims that may exceed your underlying limits.
Filing a claim: Have the underlying claim details ready.
Underwriting criteria
Common questions
What do I need underneath?
General Liability. The umbrella sits above it and any other scheduled underlying liability policies, like auto or Hired & Non-Owned Auto and employers' liability.
When does the umbrella pay?
After an underlying limit is used up on a covered claim.
What is drop-down coverage?
When an underlying aggregate limit is used up by covered claims, the umbrella drops down to respond in its place, per the policy form.
Does it cover what my policies exclude?
No. The umbrella has its own exclusions, and it doesn't broaden what your underlying policies exclude. Details are in the policy form.
Is it occurrence-based?
Yes. It sits over scheduled occurrence liability policies like General Liability, auto and employers' liability, not over claims-made policies such as D&O, E&O or Cyber.
Is this for my company or my contractors?
Your company. It protects the business and its leadership, sitting above your company's own policies.
Do legal costs reduce the limit?
No. Defense costs are paid outside the umbrella limit.
Notes
- 1 Underwritten by Technology Risk Retention Group, Inc. or a partner carrier, through Corgi.
This page is a summary, not a policy. Coverage is subject to underwriting and to the terms, conditions and exclusions of the policy issued.
Ready to get Umbrella Coverage?
A Parallax specialist reviews every application and follows up with your quote.