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Community Associations

Risk Purchasing Group & Umbrella Liability Products
(for Community Associations & Apartments)

We have developed a risk purchasing group for umbrella liability policies underwritten through AXA XL Company and Chubb Group of Insurance Companies. Currently, we have four umbrella policies available in limits of $5 Million, $10 Million, $15 Million, and $25 Million limits with AXA XL Company – Greenwich Insurance Company.

We also have an additional product for a total of $50,000,000, which is provided by AXA XL Company for the first $25,000,000 and Chubb Group of Insurance Companies for an additional $25,000,000.

  • The financial security of AXA XL Company is currently rated A XV from AM Best as well as A with Standard and Poors, Moody’s and Fitch.
  • 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 an absolute following form umbrella. This means the umbrella policy will follow the underlying package exactly. 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 & Apartments to thirty-five (35) stories are eligible. Higher stories may be eligible by referral.
  • Excess of Directors & Officers, General Liability, Automobile, Employee Benefits, Employers Liability, Including Employment Practices Liability* (*if covered under the D&O). Follow Form EPLI is only available for the AXA XL program limits of $5,000,000 to $25,000,000.
  • The Chubb Group of Insurance Companies excess policy excludes follow form EPLI.

Minimum Underlying Insurance Requirements:

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”)
$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
  • Following Form Directors & Officers Liability Following Form Provisions
  • Following Form Liquor Liability
  • Following Form Automobile
  • Following Form Employers Liability
  • Absolute Pollution Exclusion
  • Following Form Employee Benefits Liability
  • Following Form Personal Injury
  • Following Form Aggregate Per Location
  • NJ State Amendatory
  • $10,000 Coverage B Self Insured Retention NY Only
  • Certified Act of Terrorism Retained Amount Provisions -Coverage U
  • Disclosure of Terrorism

Our Exclusions:

  • Absolute Lead Exclusion (Coverage E&U)
  • Fungus Liability Exclusion
  • Earthquake Exclusion
  • Flood Exclusion
  • Care, Custody or Control Exclusion
  • Absolute Pollution with Hostile Fire Exception Exclusion
  • Errors and Omission Exclusion (Real Estate Agent)
  • Designated Operation or Work Performed Exclusion (Contractor’s)
  • Medical Payments Exclusion
  • Communicable Disease Exclusion
  • Other exclusion may be applicable based on state requirements


Our members range from small startup associations to large multi-thousand unit complexes. New Construction, associations currently under development, builder/developer controlled associations, established associations, Homeowners Associations, Planned Unit Developments are all eligible for coverage under the program.

No matter what your size, Preferred Property Program® is your choice for quality insurance protection at competitive prices.

** Minimum Premiums for AXA XL Company are $750, $1,250, $1,650, $2,200 and $3,700 for AXA XL Company and Chubb $50,000,000 combined limit

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