How property owners can prepare for an umbrella review

Start underneath the umbrella

The umbrella depends on specified underlying policies. Assemble the general liability, auto, employers liability, and other required policies with correct named insureds, terms, limits, carriers, and locations.

Look for structural differences

• Required underlying limits
• Attachment point
• Aggregate and occurrence limits
• Defense treatment
• Follow-form wording
• Exclusions and sublimits
• Entities and locations included
• Coverage territory

Keep entities aligned

Property groups often use several ownership entities. Do not assume that an entity scheduled on a property policy appears on the liability or umbrella. Review every policy and endorsement.

Limit selection is a judgment

There is no universal correct umbrella limit. Assets, contracts, operations, loss potential, availability, and risk tolerance should be considered with qualified insurance, legal, and financial professionals.