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Commercial Lessors Risk

Umbrella Product available through Preferred Property Program®

AXA XL company
Coverage E:
Excess Follow Form Liability
Coverage U:
Umbrella Liability
Limits Available:
  • $5 Million
  • $10 Million
  • $15 Million
  • $25 Million
  • $50 Million
Self Insured Retention:
$10,000 (Coverage B Only- in NY)
Highlights of Coverage:
Underlying Requirements:
Specified Named Insured Endorsement:
Same as Underlying GL
Follow Form General Liability:
$1,000,000 Per Occurrence $2,000,000 Per Aggregate
Follow Form Employee Benefits Liability:
$1,000,000 (when requested only)
Follow Form Automobile:
$1,000,000 Per Occurrence (where applicable)
Employers Liability:
$500,000/$500,000/$500,000 (where applicable)
Follow Form Liquor Law Liability:
$1,000,000 (when requested only)
Certified Acts/ Non Certified Terrorism:
Follow Form Products/Completed Operations:
Follow Form Personal & Advertising Injury:

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
  • Warehouses (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 supersede. 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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