Umbrella insurance is intended to supplement, and not replace, the coverage offered by regular homeowners, auto, and watercraft policies.
In order for insurers to offer insurance under an umbrella policy, the policyholder must purchase at least one (typically two) additional policies that cover particular risks, including certain types of property damage, loss of possessions, medical expenses, and the use of personal property when the vehicle is involved in a collision.
Umbrella insurance products typically include both loss of use (loss of vehicle) and loss of use (damage to body, personal property, and contents) coverage.
Loss of use coverage is normally meant to cover claims related to damage to the vehicle's body, loss of ability to drive the vehicle, and lost wages from forced overtime or not being able to use the vehicle to get to work.
Loss of use insurance is usually priced at a rate higher than regular homeowners, auto, or watercraft liability insurance and is intended to offset the higher average loss or damage caused by the loss of vehicle versus the typical damage caused by the loss of automobile.
Loss of use insurance typically has a higher coverage limit than coverage from other types of personal liability insurance because its risk exposure is only from incidents that do not involve the vehicle itself.
Umbrella insurance can also offer "recovery of items" coverage, allowing the policyholder to receive reimbursement for damaged personal property, lost wages, and medical expenses.
Typically, recovery of items coverage will only be offered to customers of policies that also include loss of use coverage, as it is meant to offset the higher average cost of claiming losses due to personal property as opposed to the typical claim due to injury or death.
Not all personal umbrella policy for any claims provide coverage for medical expenses as a consequence of a collision.
The coverage is sometimes referred to as umbrella liability, or umbrella cover.
A very common case where this kind of insurance is used is in times of earthquakes.
This insurance is usually purchased in conjunction with a homeowners, auto or watercraft policy.
It should be noted that some homeowner's policies do not include earthquake coverage, but other types of homeowners, auto and watercraft policies might.
Municipalities may contract with companies that specialize in managing these types of claims.
Some towns require a certain amount of liability coverage for buildings, schools and the like as well as vehicle coverage.
Each company may include an optional umbrella liability, wind and hail.
In some states, all earthquake insurance policies are capped at $1 million, or the place of work.
Many earthquake insurance policies have built in annual renewals for the first few years.
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The Iron Ore Company of Canada (IOC) has been illegally operating a mining megaproject in our traditional territory (Nitassinan) for decades, in blatant violation of our rights, without our consent, and without having paid a single penny of compensation to us, the true owners of the land. IOC’s megaproject has devastated parts of our land and continues to do so today, all the while preventing us from practising our unique way of life and traditional activities in these areas. IOC is the largest manufacturer of iron ore pellets in Canada and has reaped billions and billions in profits by illegally exploiting our land and natural resources.
Rio Tinto, one of the largest mining multinationals in the world, is the majority shareholder and operator of IOC. Rio Tinto boasts about its commitment to Aboriginal Peoples across the world and values its image as model corporate citizen. Yet, our experience over the last decades has unfortunately taught us that those are just empty words.
Efforts by the Innu to make peace with IOC/Rio Tinto
For 4 years now, the two Innu communities have shown great openness and a genuine desire to find an honourable way to settle their conflict with IOC/Rio Tinto, including attempting to negotiate an Impact and Benefits Agreement (IBA) in good faith with the representatives of IOC/Rio Tinto, just as they have successfully done with the four other mining companies which operate in their Nitassinan (one of which, ArcelorMittal, has been operating in Innu territory since the 1960s).
Legal action instituted and authorized against IOC/Rio Tinto
It is in these circumstances that the Innu of Uashat mak Mani-Utenam and of Matimekush-Lac John filed their legal proceedings against IOC on March 18, 2013, at the Superior Court of Quebec in Montreal. In such proceedings, the Innu invoke their Aboriginal title with regard to IOC/Rio Tinto’s project sites, in the same way the Tsilhqot’in First Nation successfully did regarding forestry operations in their historic victory in the Supreme Court on June 26, 2014. The Innu motion seeks to stop IOC’s projects in Quebec and Labrador and also seeks compensation for the damages caused by IOC, which are evaluated at $900 million.
In this respect, IOC tried to have the case dismissed by trying to convince the Court that the Innu had to sue the governments instead of IOC. However, the judge rejected IOC’s motion this past September 19, thereby allowing the Innu to continue their legal proceedings against the company.