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The Virtues of Excess

How much can your client afford to lose? Consider the example of a banquet hall filled to capacity when a fire breaks out, destroying the building and resulting in the injury or death of patrons. The owner’s General Liability Coverage has limits of $1 million per occurrence and $2 million aggregate; however, during the investigation it is determined that the banquet hall had numerous fire code violations and a verdict of $5 million is awarded to the claimants.