Highsmith Industries is the named insured under a Commercial Liability Umbrella Coverage

Form with a limit of $$1,000,000$ and a self$-$insured retention of $$50,000.$ The umbrella

requires Highsmith to maintain underlying limits of $$500,000$ for its Business Auto Policy.

Highsmith Industries has a claim filed against it for $$750,000$ because of injuries sustained in

an auto accident that occurred in Brazil and caused by an employee that had rented the

vehicle for $45$ consecutive days prior to the accident. Unfortunately, Highsmith had

cancelled its Business Auto Policy prior to the accident and had not yet obtained any new

coverage before the claim was filed. In this case, the umbrella policy will pay:

$$0$

$$250,000$

$$750,000$

$$700,000$