Which type of business insurance is specifically designed to cover excess liabilities?

Excess Liability Insurance is specifically designed to provide additional coverage beyond the limits set by other primary liability policies, such as general liability or auto liability insurance. This type of insurance kicks in when the claims against a business exceed the coverage limits of those underlying policies, providing businesses with a safety net against large claims or lawsuits.

What makes this insurance crucial is its ability to offer extensive protection for significant liabilities that could otherwise jeopardize a business's financial stability. It not only ensures that a business can cover unexpected high costs but also provides peace of mind, knowing that they have additional resources available for large claims.

General Liability Insurance covers standard risks faced by businesses, such as bodily injury and property damage, but does not address excess liabilities beyond its limits. A Business Owners Policy typically combines various types of coverage, but is not specifically tailored for excess liabilities. Workers' Compensation Insurance focuses solely on employee injuries and does not pertain to general liability risks. Hence, while the other options address specific types of coverage, none are geared primarily toward providing excess coverage, making Excess Liability Insurance the correct answer.