Personal Excess policies provide an additional layer of liability protection for: personal injury or property damage; lawsuits involving libel, slander or defamation of character; and accidents with uninsured and underinsured motorists. Coverage is triggered in the event your underlying coverage is not sufficient.

Consider the following:

It's raining, and your car skids unexpectedly. The passenger in the car you hit suffers a neck injury and lost earnings are significant.

You volunteer on the board of directors for your condominium association. The board installs a playground with a faulty swing and a fellow association member's child is injured.

Example: You are involved in an accident and ultimately sued by the third party who is awarded $1,450,000 for their injuries. Your underlying insurance policy, (if purchased with $1M liability) will cover the first $1,000,000 of damages. Your Personal Excess policy will then provide coverage for the remaining $450,000.

Advantages of the Chubb Policy

$5M of additional liability coverage provided at a reduced cost

Defence costs for a lawsuit, even if it is groundless are not capped and as such, sit outside of the liability limit

Coverage extends to all dependent members of your household

Coverage is worldwide, extends to foreign assets, and is especially applicable if you travel*

Provides worldwide rental car coverage up to 60 days - you can rent a car anywhere in the world and have coverage for personal injury and property damage

Provides uninsured and underinsured motorist protection - for you and your family against those carrying insufficient limits. Limitations apply to Manitoba & Quebec

Provides personal injury and property damage coverage resulting from your having a non-compensated seat on a not-for-profit board

It is not a requirement for your underlying insurance to be placed with Chubb in order to take advantage of this coverage. The Chubb product will work in tandem with your current underlying coverage and if needed, in many cases will help to fill any current gaps in coverage.

If you would like to receive complimentary due diligence on your existing insurance policies/or would like to explore underlying options available through Chubb, Colley Insurance would be happy to assist.

Personal Liability (Homeowners) for bodily injury and property damage in the minimum amount of $1,000,000 per each occurrence.

Registered and unregistered vehicles in the minimum amount of $1,000,000/$1,000,000 bodily injury and $1,000,000 property damage; or $1,000,000 single limit per each occurrence. Registered vehicles include motorcycles and motorhomes.

Uninsured and underinsured motorist protection in the minimum amounts of $1,000,000 per each occurrence. This requirement does not apply to the provinces of Quebec or Manitoba.

Watercraft less than 8 metres (26feet) and 50 engine rated horsepower or less for bodily injury and property damage in the minimum amount of $100,000 per each occurrence.

Watercraft 8 metres (26 feet) or longer or more than 50 engine rate horsepower for bodily injury and property damage in the minimum amount of $500,000 per each occurrence.

*The above liability limits must be in USD if the asset is located in the United States.

Professional activities are not covered, but incidental business/farm activities and property are, subject to the limitations stated in the policy under "business pursuits". Please contact Colley Insurance to discuss further.

Group members are all active partners of BDO Canada

Who is Considered a Covered Person?

The term "covered person" includes:

You (all active Partners of BDO Canada) or a family member;

Any person using a vehicle or watercraft covered under this policy with permission from you or a family member with respect to their legal responsibility arising out of its use

Any person or organization with respect to their legal responsibility for covered acts of omissions of you or a family member; or

Any combination of the above

Each participant is covered for a $5 million limit of liability, and there is no annual aggregate on the policy.

The Chubb Group Personal Excess policy can extend to provide coverage over "personal" assets held in a trust or holding company, as long as the requisite underlying limits of coverage are met and that the underlying policy lists either your or your spouse's name in some capacity on the policy.

Example: The Brown Family Trust a/o Ken Brown or 123456 Ontario Inc.

a/o Ken Brown should be shown at the top of the policy under the named insured.

Your Chubb Group personal Excess Liability coverage provides worldwide automobile rental coverage (subject to a few territorial restrictions), for up to 60 days. You can rent a car while on vacation and have coverage for personal injury and property damage without buying the additional insurance.

For a moped or motorcycle, you have worldwide rental coverage however; this is limited to 30 days vs. 60 days for a private passenger vehicle.

Uninsured and underinsured motorist protection is a coverage built into Chubb's Group Personal Excess policy that protects you against drivers who carry either no insurance or inadequate limits of insurance.

This is important because it enables you to protect your lifestyle and future income in the event you are involved in a not at fault accident where the third party is unable to cover the cost of your damages.

This coverage extends worldwide, and is especially relevant in places with low minimum liability insurance requirements.

Note: Government auto insurance is done differently in Manitoba and Quebec, so uninusred and underinsured motorist claims in those provinces are not covered under the Personal Excess Liability Policy.

Boats you own are covered, subject to the underlying coverage requirements.

No, you are not covered while racing.

If you have a policy that provides primary coverage for these types of vehicles, the Group Personal Excess Liability Policy will provide coverage on a follow-form basis, subject to the underlying coverage requirements. If you do not have primary coverage, talk to us about how it can be added to your homeowner's policy or purchased separately.

Yes. At the time of writing this (November 1, 2017) you would not be covered in Iran, North Korea, Syria, Cuba and Sudan. Please check with us for any changes to these territorial restrictions.