Preferred Property Program

Office Hours

In observance of the Labor Day holiday, please note that all of our offices will close at 1 p.m. EST on Friday, September 4, 2020, and will reopen on Tuesday, September 8, 2020.  If you have any service needs that must be addressed before Friday, please let us know so that we may respond to those needs as a high priority for you.  Thank you for your business.


Greenwich Insurance High Limit Program

Greenwich Insurance High Limit Program


Q: Will your umbrella sit excess of a builder/developer on an association board?
A: Yes, we do not restrict builder/developers from coverage. This is a significant enhancement from some other programs. However, no coverage will be provided for any new construction. Construction defects will be excluded on the policy.

Q: Do you have any height restrictions for Associations?
A: Yes. We have in-house authority for buildings up to 35 stories. Buildings exceeding 35 stories are referred to carrier for consideration.

Q: Does my insured receive their own policy?
A: Yes, each individual association is given their own policy containing an individual policy number. It includes the associations name(s), address, underlying limits, and applicable coverages with all endorsements attached. Each association will have their own limits. The limits are not shared; so long as the members' primary Commercial Liability coverage has a per location limit (without CAPs), our policy will follow form -- right up to the full excess limit for each and every location!

Q: Is there a common anniversary date for the program?
A: No, each insured will receive a policy which corresponds to their underlying expiration dates for concurrency.

Q: My insured is currently coming out of another program with a common anniversary date, any suggestions as to handle this?
A: We can issue either a short term or long term policy to enable your client to have their policies run concurrent.

Q: Why is there a membership fee?
A: The membership fee goes to the cost of licensing, administration and registering the different programs in the various states approved.

Q: How do we know a Purchasing Group is permitted in our client's state(s)?
A: Preferred Property Program® is registered in all states. Our Compliance Department maintains current information about Purchasing Groups filing requirements and handles all necessary paperwork on behalf of the Groups and their members.

Q: Is there a Self Insured Retention?
A: There is an SIR applicable for New York risks only, of $10,000 on coverage "B"; the true umbrella portion of our policy. This is required by state statute.

Q: Is Employment Practices Legal Liability Covered?
A: Yes, under coverage A (follow form section), when EPLI coverage is provided under a scheduled D & O policy. This coverage is available for Community Associations only (no apartment or Lessor Risk policies) and this coverage is not available in our Chubb Group of Insurance Companies $25Mil excess of $25Mil layer.

Q: Will Greenwich Insurance write over any underlying policy?
A: All underlying policies must have an A.M. Best rating of A-7 or better. Lloyd's of London carriers must be referred and approved. We will need to know the actual syndicate as well as TPA that manages the claims for consideration.

Q: Are Timeshares/Resorts eligible?
A: No. Timeshares types of risks are currently not eligible for the program. Sign up for program updates to be notified of changes to the program. If you are a linked in member; please join our group on Linked In. The group is for brokers only and can be found here:

Q: Is there coverage for the Property Manager?
A: Yes. The Property Manager is protected for their Errors and Omissions while acting at the direction of the named insured. Property Managers should have their own Professional Liability policy to protect against their own Errors and Omissions.

Q: Is Hired Non Owned Auto coverage automatically covered?
A: That depends on a few factors: When HNOA exposures are for private passenger vehicles, light or medium trucks only; yes, coverage will be provided. Risks with HNOA exposures of heavy trucks, passenger vans or passenger buses must have an underlying auto policy with minimum limits of $1,000,000; or HNOA sub-limit of $1,000,000 on the GL policy in order to be covered. If no auto policy or sub-limit in place, risk must be referred to the carrier for approval. Kindly indicate type of HNOA exposure when submitting application.




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