Becoming an Expert in Umbrella and Excess Liability Coverage
Let's face it—reading insurance forms is hard, and umbrella and excess forms can come with their own unique challenges.
But, IRMI makes it easy by breaking down each form line-by-line and provision-by-provision. Whether you're a broker, agent, customer service representative, or any other risk management professional, IRMI makes your job easier by providing the tools you need to quickly and efficiently locate and understand policy forms and provisions.
Demystifying Commercial Umbrella and Excess Liability Coverage
The Insurance Services Office, Inc. (ISO) Commercial Liability Umbrella Coverage Form (CU 00 01 04 13) is an essential form to master for any brokers, agents, and insurance professionals who manage commercial umbrella accounts. Acquiring a deep understanding of umbrella policy wording can enhance your expertise in many ways.
IRMI products provide a detailed analysis of all ISO commercial umbrella liability provisions on demand to help you navigate this coverage line's complexities and ensure comprehensive protection for your clients' organizations or your own.
Since umbrella/excess policies are not standardized like their commercial general liability counterparts, IRMI research analysts have taken pains to highlight any sections where the ISO umbrella departs significantly from the most typical umbrella forms developed by individual insurers.
Tailoring Coverage for Different Business Needs
The umbrella insurance needs of various businesses can vary greatly from one account to the next. Because of this, ISO has developed a wide range of endorsements to tailor umbrella liability coverage. In addition to the detailed line-by-line analysis of the ISO umbrella policy, IRMI provides you with comprehensive analyses of nearly every available ISO umbrella endorsement. IRMI's in-depth resources on these commercial umbrella endorsements allow you to expand your knowledge of all the ways the standard ISO umbrella policy can be modified to meet the needs of your clients or organization.
IRMI's ISO umbrella endorsement discussions are grouped by category to help you quickly find the information you need, no matter the coverage scenario you find yourself working with.
- Umbrella Endorsements—Category 04. Standard umbrella endorsements with the numerical designation CU 04 XX provide additional coverage features beyond those contained in the basic umbrella coverage form itself.
- Umbrella Endorsements—Categories 21 and 34. Categories 21 and 34 umbrella exclusionary endorsements address risks that fall outside the standard underwriting guidelines for umbrella coverage.
- Umbrella Endorsements—Category 24. Category 24 umbrella endorsements address a range of coverage amendments, some of which narrow coverage but some of which result in broadened or otherwise enhanced coverage.
- Umbrella Endorsements—Category 25. Category 25 umbrella endorsements amend the provisions of the policy that govern the application of limits of insurance.
- Umbrella Endorsements—Category 31. Category 31 umbrella endorsements address excess uninsured/underinsured motorist limits.
Leverage these tools and the rest of IRMI's commercial liability resources to make yourself a trusted adviser in this area for your clients or your organization.
