Commercial Insurance Series
Commercial Excess and Umbrella Liability Coverage Course
Why you need this course:
Most organizations face one or more complex, specialized, or unusual exposures not covered by their commercial liability policies. To fully protect your customers’ interests, fill gaps in their primary insurance protection, and help them manage loss exposures, you need to understand how excess liability insurance and umbrella liability insurance extend the limits of a commercial general liability (CGL), commercial auto, and other primary liability policies, as well as how amounts payable are determined if a loss occurs.
Upon successful completion of all five modules in this course, you should be able to:
- Explain how three characteristics of liability insurance create the need for excess or umbrella liability coverage.
- Describe the three basic types of excess liability insurance policies.
- Explain how umbrella liability insurance differs from ordinary excess liability insurance.
- Describe the following aspects of umbrella liability insurance: drop-down coverage, required underlying coverages, aggregate umbrella limits, insuring agreement, coverage triggers, exclusions, and conditions.
- Given a case about a covered liability loss, determine amounts payable under primary insurance and excess or umbrella liability insurance.
We recommend that you study the modules in the order presented in the course.
Cost: $24 per course (1 Professional Development Hour @ 24 per hour)
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