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.


Umbrella Insurance

We are delighted to announce the formation of a risk purchasing group for umbrella liability policies underwritten through AXA XL Company and Chubb Group of Insurance Companies for the excess layer. Currently we have four umbrella limits available $5 Million, $10 Million, $15 Million, and $25 Million. Up to $50 Million in total limits are available-the first $25 million provided by AXA XL Company and an additional $25 Million by Chubb Group of Insurance Companies. 

Key product attributes:

  • The financial security of AXA XL Company
  • The financial security of Chubb Group of Insurance Companies receives consistently high ratings for financial strength from A.M. Best, Moody’s and Standard & Poor’s, the leading independent analysts for the insurance industry.
  • Coverage E of the form is a following form umbrella. This means the umbrella policy will follow the underlying package terms and conditions.. It will rely on the definitions used in the underlying; if coverage exists there it will be covered under this policy as well; unless specifically excluded.
  • Developer Sponsored Boards are eligible
  • High Rise Associations or Apartments to thirty-five (35) stories are eligible. Higher buildings are eligible by referral.
  • Excess of Directors & Officers, General Liability, Automobile, Employee Benefits, Employers Liability,Including Employment Practices Liability* (*if covered under the D&O). The Chubb Group of Insurance Companies policy (25 excess of 25) has an EPLI exclusion.
  • Time shares are ineligible for the AXA XL Company Policies

Minimum Underlying Insurance Requirements:

Underlying Carriers: Best's Rating A-VII or better

Underlying Carriers: Best's Rating A-VII or better
General Liability: $1,000,000 Per Occurrence
$1,000,000 Personal & Advertising Injury
$1,000,000 Products/Completed Operations/Aggregate
$2,000,000 General Aggregate Per Location (no "CAP")
Automobile: $1,000,000 Auto Liability BI/PD Combined Single Limit for all autos
Employers Liability: All States
$500,000 Each Accident
$500,000 Each Disease/Employee
$500,000 Each Disease/Policy Limit
Directors and Officers: $1,000,000 Per Occurrence and Aggregate
Liquor Liability: $1,000,000 Per Occurrence and Aggregate
Employee Benefit Liability: $1,000,000 Per Occurrence and Aggregate

Program Highlights

  • Following Form Named Insured
  • Following Form General Liability
  • Directors & Officers Liability Following Form Provisions
  • Following Form EPLI to the extent that insurance is provided under underlying D&O
  • Following Form Liquor Liability
  • Following Form Automobile (Coverage E)
  • Following Form Employers Liability (Coverage E)
  • Following Form Employee Benefits Liability (Coverage E)
  • Following Form Personal Injury
  • Disaster Response Coverage Endorsement $50,000
  • Claims Made Endorsement (where an underlying policy is Claims Made)
  • Following Form Aggregate Per Location (multi-location risks must have "per location aggregate" on primary general liability policy)
  • $10,000 Coverage U Self Insured Retention NY Only
  • Certified Act of Terrorism Retained Amount Provisions -Coverage U
  • Disclosure of Terrorism
  • Per Location Limit and per location aggregate. No shared limits, each association has their own limits on a per location basis. No "hidden program aggregates".
  • Coverage available in all 50 states.

Our Exclusions:

  • Lead Liability Exclusion (Coverage E&U)
  • Mold, Rot or Other Fungi Exclusion
  • Earth Movement or Subsidence Exclusion
  • Care, Custody or Control Exclusion
  • Pollution Exclusion with Named Peril Exception
  • Errors and Omission Exclusion (Real Estate Agent)
  • Construction Defect Exclusion
  • Foreign Liability Exclusion
  • Contaminated Drywall Exclusion
  • "No Fault", "Uninsured Motorist" or "Underinsured Motorists" Laws exclusion
  • War Liability Exclusion

Visit us online at or call our office at 888-548-2465 for more information regarding this and our other products.

Disclaimer: These highlights are only a brief outline of coverages and applicable exclusion. This is only a summary; and the terms and conditions of the policy will take precedence.


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