As risk-mitigation professionals, we owe it to our customers to have a frank discussion about umbrella insurance. It might start with dispelling the myth that only irresponsible people get sued. Everyone is at risk, but there is a greater risk if they:

Have a teen driver in the household. A catastrophic auto accident is the single biggest reason someone might get sued, and teen drivers have the highest per-mile crash rate of any driver on the road.
Own rental property. Tenants can sue landlords if they suffer an injury on the property.
Play sports or participate in recreational activities. An errant maneuver on a jet ski, for example, could seriously or even fatally injure someone.
Share opinions online. If a business feels someone has damaged their reputation and earnings with an unfounded review, that person can be sued.
Host parties. The legal system is just beginning to sort out liability what-ifs surrounding the pandemic and whether hosts can be held responsible for a "super-spreader event" the same way they can if a tipsy guest slips going down icy stairs. Even for hosts who've paused social gatherings, risks remain once the pandemic is behind us and socializing returns to normal.

Umbrella also serves an important societal benefit. It ensures that accident victims are fully and quickly compensated, not left to rely on potentially costly and drawn-out legal remedies. It also frees people to keep working, contributing and fueling local economies as they take responsibility for serious liability.

Special Reports /

Umbrella insurance: An overlooked part of fulfilling the insurance promise

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