Bumbershoot Policy

Definition of "Bumbershoot policy"

Karl  Morrissey
  Allen Tate Realtors

Liability insurance coverage, primarily for shipyards for ocean marine risks, provided in much the same manner as umbrella liability insurance for nonmarine risks. Coverages may be provided in addition to liability include protection and indemnity insurance, longshoremen and harbor workers act liability, collision, and salvage expenses.

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