The Margin Corporation has a commercial general liability policy with the following limits: Each occurrence $1 million General aggregate $2 million The corporation also has an umbrella liability policy with the following limits: Each occurrence $2 million Aggregate $2 million Self-insured retention $1,000 If Margin has a $1.5 million loss that is covered by both policies, how much will the umbrella liability insurer pay? Assume that previous losses of $100,000 have been paid under the commercial general liability policy during the current policy period