We have developed a risk purchasing group for umbrella liability policies underwritten through Zurich North America and Chubb Insurance Group. Currently, we have four umbrella policies available in limits of $5,000,000, $10 Million, $15 Million, and $25 Million limits with Zurich. We also have an additional product for a total of $50,000 which is provided by Zurich for $25,000 and Chubb for an additional $25,000. We have developed a risk purchasing group for umbrella liability policies underwritten through Zurich North America and Chubb Insurance Group.

• The financial security of Zurich North America; Zurich has ratings of A+ 15, and AAA from A.M. Best and Standard and Poors, respectively.
• The financial security of Chubb Insurance Group has ratings of A++ 15, and AAA from A.M. Best and Standard and Poors, respectively.
• Coverage A 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 to thirty-five (35) stories are eligible.
• Excess of Directors & Officers, General Liability, Automobile, Employee Benefits, Employers Liability, Including Employment Practices Liability* (*if covered under the D&O).
• For Time Share's, excess Liquor Liability, if applicable

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")
Automobile:	$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
• Certified Act of Terrorism Retained Amount Provisions -Coverage B
• Disclosure of Terrorism

Our Exclusions:

• Absolute Lead Exclusion (Coverage A&B)
• Fungus Liability Exclusion
• Earthquake Exclusion
• Flood Exclusion
• Care, Custody or Control Exclusion
• Absolute Pollution with Hostile Fire Exception Exclusion
• Error's and Omission Exclusion (Real Estate Agent, Property Manager)
• Designated Operation or Work Performed Exclusion (Contractor's)
• Medical Payments Exclusion

Members

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, Planned Unit Developments and Timeshare Associations are all eligible for coverage under the program.

With low minimum premiums of $750, $1,250, $1,500, $2,000, and $3,500 we can confidently say, "We've Got You Covered".

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

 

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