Excess Liability

D

Excess liability insurance provides additional coverage above and beyond the limits of a primary liability policy. In the event of a covered loss, excess liability insurance kicks in once the primary policy's limits have been exhausted.

Option A states that excess liability covers the insured against the loss in access of an actual amount, but only for profits as covered and defined in a predetermined planning. This is not an accurate description of excess liability insurance. Excess liability insurance does not cover profits or any other form of income, it only covers losses that exceed the limits of the primary policy.

Option B is the correct answer. It states that excess liability covers the insured against the loss in access of an actual amount, but only for losses as covered and defined in an underlying policy. This is an accurate description of excess liability insurance. It provides coverage for losses that exceed the limits of the primary policy, but only for losses that are covered under the primary policy.

Option C states that excess liability covers all uninsured against the gain in access of a stated amount, but only for losses as covered and defined in an underlying policy. This is not an accurate description of excess liability insurance. Excess liability insurance does not cover uninsured losses or gains, it only provides coverage for losses that exceed the limits of the primary policy.

Option D states that excess liability covers the insured against the loss in access of a stated amount, but only for losses as covered and defined in an underlying policy. This is similar to Option B and is an accurate description of excess liability insurance. It provides coverage for losses that exceed the limits of the primary policy, but only for losses that are covered under the primary policy.

In summary, the correct answer to the question is option B, which accurately describes the coverage provided by excess liability insurance.