Low Limit Umbrella Product for Community Associations are now available through JGS Insurance.
We have developed a Low Limit Umbrella Liability program underwritten through JGS and issued through Chubb Group of Insurance Companies. We have Umbrella policies available in limits of $1 Million through $5 Million excess of GL, Auto, Employers Legal Liability and Directors and Officers policies.
- 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 A of the form is an absolute following form umbrella which means the umbrella policy will follow the underlying package. It will rely on the definitions used in the underlying; if coverage exists there it will be covered under this policy as well (unless the policy contains a specific exclusion).
- Developer Sponsored Boards are Eligible!
- High Rise Associations are eligible by referral.
- Excess of Directors & Officers, General Liability, Automobile, Employee Benefits, Employers Liability
Minimum Underlying Insurance Requirements:
Best’s Rating A-VI or better; Otherwise Refer to Company
$1,000,000 Personal & Advertising Injury
$2,000,000 General Aggregate Per Location
$500,000 Each Accident
$500,000 Each Disease/Employee
$500,000 Each Disease Policy Limit
- Individual Policies Issued by Chubb Group of Insurance Companies to run concurrent with the Underlying GL policies.
- Following Form Named Insured
- Following Form General Liability
- Following Form Directors & Officers 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 where applicable
- No Self Insured Retention, unless required by statute
The following endorsements will be attached to the policy*:
- Pollution Exclusion
- Employment Related Practices Coverage A&B Exclusion
- Personal Injury/Discrimination Definition – Coverage B
- Defense within Limits Notice (Follow form D & O within or without)
- Professional Services Exclusion – Coverage B
- Extended Reporting Period Endorsement
- Employers Liability Limitation Endorsement – Coverage A&B
- Care, Custody or Control Exclusion – Coverage A&B: Real & Personal Property
- Biological Agents Exclusion
- Terrorism Exclusion – Coverage B
- Lead Exclusion – Coverage A&B
- Total Abuse or Molestation Exclusion
In order to bind coverage, we will need a copy of the general liability binder or quote letter listing all endorsements that will be attached to the policy; including the acceptance or rejection of terrorism coverage and a signed application. Upon receipt of same, we will amend our endorsements if necessary.
Our members range from small start up associations to large multi-thousand unit complexes. New Construction, associations currently under development, builder/developer controlled associations, established associations, Homeowners Associations and Planned Unit Developments are all eligible for coverage under the program.
With low minimum premiums of $500.
No matter what your size, Preferred Property Program® together with JGS is your choice of quality insurance protection at competitive prices.
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