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Umbrella Insurance
Meet Renee | Distinguished Real Estate & Hospitality Umbrella
At Distinguished, our commitment to excellence is not just a promise; it’s a way of life. Our Umbrella & Excess Liability team is a shining example of this commitment. In this video series, we’re excited to introduce you to the remarkable individuals who make up our sales team, including Renee A. McFadden. Renee stands at…
Staying Afloat in the Umbrella Insurance Market: Why Program Stability Matters for Hotels and Resorts
The ever-shifting landscape of the Umbrella market presents a formidable challenge, with rate adequacy taking center stage. Larger carriers, seeking higher returns, have been consolidating and scaling back on the capacity they offer. What was once commonplace as $25 million limits in a tower has dwindled to a mere $15 million or even less. Furthermore,…
How Much Does Restaurant Insurance Cost?
Restaurants face a range of hazards that necessitate comprehensive insurance coverage. From General Liability to Cyber Liability and more, a restaurant’s insurance program should be tailored to its unique risks. However, determining the cost of restaurant insurance can be a complex process influenced by numerous factors. In this article, we will explore how insurers calculate…
How to Sell Real Estate Umbrella Insurance
There are several hazards a property owner faces that could result in a catastrophic liability lawsuit. This includes attractive nuisances (open access to a swimming pool, for example), elevator or escalator malfunction, inadequate security, negligent property maintenance, premises in disrepair, and unprotected slip hazards (such as spills or recently cleaned floors), among others. To determine…
The Case for Higher-Limit Hotel Umbrella Insurance
As an insurance broker, it’s important to understand the current litigious environment and the importance of offering high-limit Hotel Umbrella insurance to your clients. Hotels, in general, recognize the necessity of purchasing Commercial Umbrella insurance to extend their liability coverage in underlying policies such as General Liability. But what is key to driving home is…
Umbrella Insurance for City Clubs: A Broker’s Guide
In this article, we examine the ins and outs of umbrella insurance for city clubs. Also known as a social club or business club, a city club is membership-based and, as its name implies, is often located in an urban area close to its members’ homes or offices. It’s a place where people can socialize, network,…
Casino Umbrella Insurance: The Safe Bet
Walk into any casino or hotel-casino, and you are immediately transported to another reality by the barrage of noises from the spins of slot machines, the ding and dong of games, coins hitting metal, and the pitter-patter of the those running the games. There’s also the hustle and bustle of the wait staff and the…
Umbrella Insurance: What It Is and What It Covers
Everyone has heard of a lawsuit horror story that cost a family or business millions of dollars in fees and damages. Umbrella insurance policies help cover those extraordinary costs so that your clients can sleep well knowing they aren’t one accident away from insolvency. However, not everyone knows what an umbrella policy is or how…
Resort Insurance: Why High-Limit Umbrella Coverage Is Essential
In this article, we will explore the key differentiator in a robust resort insurance program – the umbrella policy. Americans hit the road and took to the skies in earnest this summer, with resorts filling up fast following two years of the pandemic which hit the hospitality and tourism industries hard. Whether it’s a trip…
Real Estate Umbrella Insurance: A Primer for Brokers
In 2020, the US experienced around 380,000 fires in residential buildings, including homes, multi-family homes, and apartments. Each one of those incidents could be grounds for litigation that cost property owners millions in damages. That’s why it’s important companies have robust and comprehensive insurance policies protecting them from fire and life safety suits, as well…