Established more than 25 years ago, a risk purchasing group for umbrella liability policies.
We currently have the following limits available: $5 Million, $10 Million and $15 Million. The $5 Million and $10 Million limits are provided by Spinnaker Insurance and Spinnaker Specialty Insurance (for non-admitted states, CA, FL, WA, HI and NY), No coverage provided in GA). The $15 Million limit is underwritten through both Spinnaker Insurance and Liberty Insurance companies.
Key product attributes:
- 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, Employers Liability, including Employment Practices Liability up to $10 Million.
- Timeshares are ineligible for the PPP Company Policies.
- Apartment buildings 1-4 stories built prior to 2002 are ineligible for new business.
Minimum Underlying Insurance Limit and Carrier Rating Requirements: Underlying Carriers: Best's Rating A-VII or better
Best’s Rating A-VII or better
$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”)
$1,000,000 Auto Liability BI/PD Combined Single Limit for all autos
All States, Except in Monopolistic States where $100,000 each accident/$500,00 each employee and $100,000 limits are acceptable. Also if WC is through a state fund, lower limits are acceptable.
$500,000 Each Accident
$500,000 Each Disease/Employee
$500,000 Each Disease/Policy Limit
$1,000,000 Per Occurrence and Aggregate
$1,000,000 Per Occurrence and Aggregate
Program Highlights:
- Following Form Named Insured (Coverage E).
- Following Form General Liability (Coverage E) unless specifically excluded under PPP’s policy.
- Directors & Officers Liability Following Form Provisions (Coverage E). (Not available for Apartments)
- Following Form EPLI to the extent that insurance is provided under underlying D&O (Coverage E) currently up to $10 Million.
- Following Form Liquor Liability (Coverage E).
- Following Form Automobile (Coverage E).
- Following Form Employers Liability (Coverage E).
- Following Form Employee Benefits Liability (Coverage E) covered if coverage provided on underlying GL.
- Following Form Personal Injury (Coverage E).
- Disaster Response Coverage Endorsement $50,000 (Coverage E).
- Claims Made Endorsement (Coverage E) (where an underlying policy is Claims Made).
- Following Form Aggregate Per Location (multi-location risks must have an uncapped “per location aggregate” on primary general liability policy). Meaning each location must have their own aggregate. 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”.
- Disclosure of Terrorism.
- Admitted coverage available in 46 states and DC. Non-admitted coverage available in 3 states (NY, FL, & CA). No coverage available in GA.
Our Exclusions:
- Umbrella Liability Coverage U Exclusion.
- Lead Liability Exclusion (Coverage E&U).
- Mold, Rot or Other Fungi Exclusion.
- Earth Movement or Subsidence Exclusion.
- Property in Care, Custody or Control Exclusion.
- Pollution Exclusion with Named Peril Exception.
- Errors and Omission Exclusion (Real Estate Agent).
- Assault and Battery may apply to certain risks.
- Communicable Disease Exclusion.
- Data Breach Exclusion.
- Construction Defect Exclusion.
- Foreign Liability Exclusion.
- Contaminated Drywall Exclusion.
- “No Fault”, “Uninsured Motorist” or “Underinsured Motorists” Laws exclusion.
- War Liability Exclusion.
- Cannabis Exclusion.
- Exterior Insulation and Finish Systems E and U Exclusion.
- Property in Your Custody Coverages E and U Exclusion.
- Other exclusion may be applicable based on state requirements, and/or unacceptable risk exposures.
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