Willis, an insurance brokerage owned by WTW, has launched the Willis Excess Liability Lineslip (WELL) facility, an umbrella insurance solution designed to address the United States’ limited ability to cover large and complex casualty risks.
The company explains that WELL facilities offer up to $50 million in combined primary umbrella and first-time deductibles, providing organizations with additional options for obtaining higher liability limits, especially as insurance companies continue to limit umbrella capacity due to increased frequency and severity of claims.
WELL is designed for organizations seeking larger lead umbrella limits than typically offered in traditional retail markets, including those with complex or challenging risk profiles that may face limited interest from domestic insurers.
The facility was developed by Willis’ North American casualty team in London and is part of Direct & Facultative’s global specialist division.
It enables customers to access a wider range of limits under a single policy by leveraging the London market’s ability to pool capacity through the Lloyd’s syndicate, with terms and conditions set by representatives of one of the leading insurance companies participating in the market.
WELL offers up to $25 million in primary umbrella coverage, with the option to provide an additional $25 million in first-time excess coverage, helping businesses gain protection against catastrophic liability claims that exceed primary casualty limits.
“Our clients are navigating a U.S. casualty insurance market where obtaining meaningful aggregate coverage is becoming increasingly difficult,” said James Sallada, head of North America Casualty at Willis. “With WELL facilities, we have brought together global capabilities to provide organizations with higher limits, simplified placement and tailored solutions to help them protect against catastrophic risks and confidently manage complex risks.”
WELL facilities offer comprehensive coverage with several distinguishing features, including the use of a single policy form that covers all limits and the designation of a primary underwriter to coordinate claims in all participating markets.
Additionally, the facility includes built-in enhancements such as expanded protection for joint ventures, coverage of evacuation costs, and disaster response provisions.
Customers have the flexibility to tailor coverage to their specific requirements and choose the basis for claims, incidents or incident reporting.
The facility is open to a wide range of industries and provides complex casualty risks to Willis customers who require additional protection capabilities. If interested in learning more, please contact your Willis excess casualty representative.