• A floating redundant policy is a redundant policy that enforces its own restrictions on top of one main policy. Floating surplus forms are most often written to apply the surplus of the insured company’s principal directors and officers (D&O), employment practices, and fiduciary liability policies. In effect, its limits can “float” between the limits provided by these (and other) types of underlying policies when they are exhausted by claims payments. In the event that one or more claims exceed these primary/basic limits, the floating deductible policy limit may apply in any combination up to the single or multiple loss limit of the floating deductible policy. Floating excess policy forms are almost always written on a “straight” excess basis, whereby they follow the wording of the underlying policies and are therefore not “disclosed” (i.e., provide wider coverage) in the event that a particular claim is not covered. /excluded by the primary form.