For your client, a commercial umbrella policy could be the difference in keeping their doors open. Need help convincing them that a commercial umbrella is worth the premium? Share these real-life examples to help them see the light:
- A man suffers burns to 60% of his body when a gas fireplace in an apartment building explodes. Medical and compensatory awards total $3 million. The general liability policy covers $1.5 million per occurrence, leaving the apartment building with an unfunded liability of $1.5 million.
- In Florida, an 11-year-old dies in an auto accident at a controlled intersection inside a neighborhood constructed by a development company. Plaintiff verdict: $10 million.
- In New York, a deliveryman requires surgery and continuing treatment for herniated discs after he slips and falls down the stairs of a restaurant. Plaintiff verdict: $1.7 million.
- In Massachusetts, an electrician encounters a live wire at a construction site and suffers traumatic brain injury—allegedly the result of the electrical contractor’s negligent work. Plaintiff verdict: $2.9 million.