What does Lead Umbrella mean? Read on to discover the definition & meaning of the term Lead Umbrella - to help you better understand the language used in insurance policies.
The term lead umbrella refers to the first umbrella policy in a multilayer excess program that sits directly over the primary policies. Typically, higher-level excess policies sitting above the lead umbrella in this type of placement contain follow-form provisions making them follow the "lead" of the terms and conditions of the first underlying umbrella.
We hope the you have a better understanding of the meaning of Lead Umbrella.