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Property and Casualty Licensing > Umbrella > Flashcards

Flashcards in Umbrella Deck (6)
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0

Policy that does not provide broader coverage; only higher limits.

Excess liability

1

Are umbrella policies available for wc?

No

2

If a loss is not covered by the underlying policy the insured would be responsible for the ______ _________ ______________.

Self-insured retention

3

When does an umbrella policy pay without a SIR?

1) excess of claim covered by primary policy
1) drop down due to aggregate limit being exhausted.

4

When are defense costs paid under Umbrella policies?

First-dollar defense coverage.

5

Government sponsored program which makes flood insurance available.

NFIP