Preferred Property Program

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Commercial Lessors Risk

Umbrella Product available through Preferred Property Program®

Coverage E:
Coverage U:
Limits Available:
Self Insured Retention:

Highlights of Coverage:
Specified Named Insured Endorsement:
Follow Form General Liability:
Follow Form Employee Benefits Liability:
Follow Form Automobile:
Employers Liability:
Follow Form Liquor Law Liability:
Certified Acts/ Non Certified Terrorism:
Follow Form Products/Completed Operations:
Follow Form Personal & Advertising Injury:

AXA XL company
Excess Follow Form Liability
Umbrella Liability
$5 Million, $10 Million, $15 Million, $25 Million, and $50 Million
$10,000 (Coverage B Only- in NY)

Underlying Requirements:
Same as Underlying GL
$1,000,000 Per Occurrence $2,000,000 Per Aggregate
$1,000,000 (when requested only)
$1,000,000 Per Occurrence (where applicable)
$500,000/$500,000/$500,000 (where applicable)
$1,000,000 (when requested only)

 Applicable Endorsements:

  • Named Insured Endorsement
  • Absolute Pollution Following form with Hostile Fire Exception
  • Following Form Aggregate Per Location
  • NJ State Amendatory
  • Lead Exclusion - Coverage E & U
  • Care, Custody Or Control Exclusion
  • Earth Movement or Subsidence Exclusion
  • Fungus Liability Exclusion
  • Certified Act of Terrorism Retained Amount Provisions -Coverage U
  • Products-Completed Operations Aggregate Endorsement
  • Master Policy Term Endorsement
  • Errors and Omissions Exclusion (Real Estate Agent; Property Mgr)
  • Designated Operation or Work Performed Exclusion (Contractors)
  • Disclosure of Terrorism
  • Medical Payments Exclusion

Eligible Classes of Business:
Leased or rented premises
Office Buildings
Office Parks
(no storage of chemicals)

OL& T Exposures consisting primarily of:
Property Owners/Managers
Shopping Centers (strip or retail malls)
Apartment Owners with mixed schedules
Industrial Centers

 Ineligible Classes of Business
This list is not all inclusive and PPP reserves the right to modify or reject applications based on the tenancy of all locations.

  • Amusement Parks
  • Assisted Living
  • Auto Body/Paint Shops
  • Auto Tire Recapping
  • Bamboo, Rattan, Willow Stocks
  • Boarding/Rooming Houses
  • Bowling Alleys
  • Burlap Stocks
  • Casinos
  • Candle (wax) storage
  • Carnivals
  • Celluloid Goods
  • Chemical Storage
  • Circuses
  • Day Care
  • Dormitories
  • Dwellings, Seasonal
  • Explosives
  • Facilities w/ Armed Guards/Dogs
  • Fairs
  • Farms
  • Fireworks
  • Furnished Rooms
  • Furniture Refinishing
  • Marinas
  • Mattress Storage
  • Mobile Homes
  • Nightclubs
  • Nursing Homes
  • Pillow Storage
  • Postal Offices
  • Public Theaters
  • Riding Academies
  • Schools; including Learning Facilities
  • Scrap Yards
  • Senior Residences w/ extended care
  • Shooting Galleries
  • Stadiums
  • Student Housing
  • Trailer Homes
  • Vacant Buildings

Requirements to receive a quote:
A completed Preferred Property Program LRO internet application. To receive a binding quote 4-5 years of company generated hard copy loss runs are required. We can provide premium indications with loss information provided on applications. However, these indications are subject to change if the loss runs submitted differ from those outlined in the application.

Requirements to Bind:
Our completed and signed LRO application; signed membership agreement; and 3-5 years company generated current valued loss runs. All underlying insurance carriers must be rated by A.M. Best A-VII or better. Please note Lloyd's of London is not an acceptable carrier. For multiple locations a per location aggregate (with no "CAP") is a requirement. Umbrella policy term must be concurrent with primary underlying General Liability term.

Broker Compensation:
Quotes are provided with 10% commission to the broker.

Highlights of coverage are for illustration purposes only. Policy terms and conditions supercede. Please review your policies upon receipt as actual policy terms and conditions will apply.

Minimum premiums apply. Insureds must become members of our risk purchasing group by paying a fully earned fee and signing a membership agreement.



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