The bottom line is this: The sky's the limit when it comes to awards that juries grant to successful litigants these days.
Unfortunately, a commercial general liability insurance policy might not shield you from all of the worry. As noted above, some plaintiffs win awards that can stagger the imagination. It's quite likely that your standard liability insurance policy won't cover damages awarded in excess of $1 million.
As a result, if you rely solely on your commercial general liability insurance policy for all of your liability coverage, and a jury awards a plaintiff who sues your business damages amounting to $1.5 million, you could still be put out of business, unless you happen to have a half a million dollars lying around. This is true even if your business was sued for a frivolous reason.
Umbrella insurance, essentially, is an insurance policy that covers your business beyond the standard coverage you receive from your commercial general liability insurance policy. What that means is that anything not covered by your standard liability insurance policy is covered by the umbrella policy.
In fact you'll find that some umbrella policies offer as much as $10 million in additional coverage. In this litigious society, that's a nice cushion against potential lawsuits.
Also, umbrella insurance could literally save your business. If your business can't afford to pay for the damages awarded against it, then a judge could order that the business assets be seized in lieu of payment. You don't want that to happen, so protect yourself.
You've worked hard to build your business. Why not give it the protection that it deserves with the additional coverage provided by an umbrella policy?