Established more than 20 years ago, 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.
- Timeshares are ineligible for the AXA XL PPP Company Policies.
- Apartment buildings 1-4 stories built prior to 2007 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
$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
$1,000,000 Per Occurrence and Aggregate
Program Highlights:
- Following Form Named Insured.
- Following Form General Liability.
- Directors & Officers Liability Following Form Provisions. (Not available for Apartments)
- 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 an uncapped “per location aggregate” on primary general liability policy). Meaning each location must have their own aggregate.
- 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:
- 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).
- 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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