Post Topic
Umbrella Insurance
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…
The Importance of Program Stability in Real Estate Umbrella Insurance
The hard insurance market over the last several years has been characterized by rate increases, diminished capacity, and carriers exiting certain niche markets and lines of business. This has caused challenges for retail agents in finding a home for new business and renewals. Real Estate Umbrella insurance, like most product lines, hasn’t been spared from…
The Case for Higher-Limit Real Estate Umbrella Insurance
Property owners face a number of exposures that could result in a catastrophic liability lawsuit, making the case for ensuring vigilant maintenance of safety and security measures and for purchasing higher-limit Real Estate Umbrella insurance. Exposures include attractive nuisances (such as open access to a swimming pool), elevator or escalator malfunction, insufficient security, negligent property…
Express Umbrella Insurance Q+A [Webinar Recording]
We enjoyed talking with insurance brokers during our latest webinar, a 30-minute session entitled, “Build Your Business: Community Association & Small Real Estate Umbrella Coverage.” Watch the full webinar recording below: Our attendees challenged us with questions that went right to the heart of their current business issues. The session covered a broad range of…
3 Reasons Umbrella Insurance for Rental Properties is Essential
If you were to skydive, would you want one chute or two? The obvious answer is two because skydiving is a calculated risk, and if something were to go wrong, you’d want a backup. Landlords often think they’re financially protected from lawsuits because they already have one chute: landlord insurance. However, sometimes, landlord insurance isn’t…
Top 3 Real Estate Risk Exposures for Property Owners
What are the top risk exposures real estate property owners & managers face? The sources of top liability exposures for residential and commercial real estate include: sidewalks, parking lots and parking structures, pools, playgrounds, and elevators. Slips and falls, drownings, and assaults and other security issues often result from negligent property maintenance, unprotected slip hazards,…
Umbrella Insurance for Community Associations – Why You Need It Today
In a highly litigious environment, umbrella insurance for community associations is crucial. It can often mean the difference between financial stability and ruin. Below, we review a few exposures and recent settlements where umbrella insurance can help. Defining Community Association Community associations include the following: The Role of the Board of Directors An association’s board…
What’s New in Our Express Umbrella Insurance Program?
This article highlights: Differences and similarities between Express Real Estate and Express Community Association Key coverages and limits How to submit business Distinguished Programs’ long-standing footprint and reputation as a pioneer in developing niche-focused Umbrella insurance products enable us to tap into what the market needs to both improve and expand our offerings. We recently…