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How the Plan Works

The JPMorgan Chase Group Personal Excess Liability Insurance Plan provides additional liability protection for damages and costs for which you or a covered family member are liable, beyond the limits of liability provided by your primary auto, homeowners, renters, recreational vehicle, motorcycle, and watercraft insurance policies. If you enroll, you can choose from three levels of coverage:
  • $2 million in coverage
  • $5 million in coverage
  • $10 million in coverage
Coverage under this type of plan is always in excess of any other collectible insurance and is also known as an "umbrella policy." The Plan generally covers damages a covered person is legally obligated to pay for personal injury or property damage, in excess of damages covered by the underlying insurance. The Plan also covers some liability exposures that may be excluded by your underlying policies. These exposures have no required underlying limits and are covered from the first dollar of loss, unless the Plan states otherwise.
For example, in the case of a car accident, your primary auto insurance policy would provide the first level of coverage and the JPMorgan Chase Group Personal Excess Liability Insurance Plan would be available once the primary limits are exhausted. However, if you already have a personal excess liability policy, that policy would act as the second level of coverage and then the JPMorgan Chase Group Personal Excess Liability Insurance Plan would be the final level of coverage after all other policy limits are reached.
The Chubb Insurance Company will pay on the participant's behalf up to that amount for covered damages from any one occurrence, regardless of how many claims, homes, vehicles, watercraft, or people are involved in the occurrence. Any costs The Chubb Insurance Company pays for legal expenses are in addition to the amount of coverage.
In case of an accident or occurrence, you must notify Arthur J. Gallagher Risk Management Services as soon as reasonably possible.