|
Carrier |
Rated A++ / XV by AM Best, admitted in every state. |
|
Limits of Liability |
$5,000,000 to $25,000,000
(Aggregate limit of liability applies separately over each underlying liability coverage as well as per location.) |
|
SIR |
$10,000 |
|
Minimum Premium |
Varies |
|
Eligible entities |
- Privately owned residential associations;
- Condominium Associations;
- Homeowners Associations;
- Planned Unit Developments;
- Townhome Associations;
- Property Owners Associations;
- Cooperatives;
- Timeshares.
|
|
Requirements |
Completed application. All underlying insurance carriers must be rated A/VII or better by AM Best. (Excess AL, EL, and D&O may be excluded if appropriate underlying insurance is not purchased.)
GL - $1MM / occurrence and $2MM / aggregate
AL - $1MM for owned, (GL - hired and non-owned)
EL - $100K accident / $500K aggregate / $100K disease
D&O - $1MM / occurrence |
|
Compensation |
Premiums are quoted net to broker |
|
Special Features |
Definition of insured includes: directors, officers, property manager, entity, employees, volunteers, and committee members |
|
Pure Follow Form D&O, Claims-Made/Occurrence form Hybridizing Endorsement |
|
"Follow Form" coverage (where applicable) |
Automobile Liability; Directors & Officers Liability; D&O Employment Practices; Punitive Damages; Lead Paint; Personal Injury; Contractual Liability; Employee Benefits Liability; Liquor Liability; Hostile Fire Exception to Pollution Exclusion; All Aggregates; Aggregates apply on a "Per Location" basis; Garage-keepers Legal Liability (provided on exception basis only - request by agent required); Pesticide or Herbicide Applicator Liability (provided on exception basis only - request by agent required); Watercraft Liability; Occupational Disease |
|
Other Benefits |
Defense costs are outside the limits of liability. |
|
No Shared Limits - each insured receives its own policy and policy number. |
|
General Information |
Clients in the program do not share limits; each client in the program is provided with its own policy and policy number. |
|
Written concurrently with the underlying General Liability. We do not require proration onto a Master Policy date. |
|
For other coverages and exclusions, please see our application and policy forms. The policy is the controlling instrument. |
|
"Follow Form" coverages are subject to the insured carrying required minimum primary limits with acceptable underlying carriers and other acceptable underwriting criteria. No dropdown provision. |
|
Rate indications provided are subject to completed applications. Quotes are not provided without thoroughly completed applications. |