Personal Umbrella Program Countrywide Non-Admitted

Transcription

1 Personal Umbrella Program Countrywide Classes of Business Available Primary Umbrella Excess Umbrella Target Primary Umbrella Target Excess Umbrella Underwriting Guidelines and General Rates The program is designed to provide personal umbrella coverage for individuals and members of the household. We offer Primary and Excess layers. Target risks such as professional entertainers, athletes and political figures are eligible for the Target program on a submit basis. AVAILABLE LIMITS $1 - $10 Million IN, LA, NH, VT & WV are limited to $1 million maximum BINDING AUTHORITY Refer to your agency contract for specific binding authority MINIMUM EARNED PREMIUM 25% POLICY FEE A fully earned Policy Fee may be charged POLICY PERIOD Annual term SELF INSURED RETENTION None APPLICATION A fully completed and signed Company or ACORD application is required on new business and every third renewal. A fully completed Company Renewal Questionnaire is required each anniversary. INELIGIBLE RISKS No Underlying CPL (Comprehensive Personal Liability) Corporations, LLC s and Partnerships as Named Insured Business pursuits Risks with Commercial underlying policies, except OL&T s (Lessor s Risk) Vehicles that have been modified other than by the factory Farms without CPL or Farm CPL 1 Revised 5/12

2 MINIMUM UNDERLYING REQUIREMENTS PRIMARY Coverage Type Homeowner (CPL) $300,000** CSL or Split Limit Options Auto $500,000 or $500/500/100 Watercraft $300,000* Rental Units $300,000** Vacant Land $300,000 ($250/500/100 or $300/500/100 for additional premium)* Motorhomes $500,000 or $500/500/100 Farms (CPL or FCPL) $300,000 *Subject to Automobile & Watercraft guidelines ($250/500/100 or $300/500/100 for additional premium)* **$100,000 is available in FL, for an additional charge, if Citizens is the underlying Carrier. Not available for Mobile Homeowner. MINIMUM UNDERLYING REQUIREMENTS EXCESS Primary Umbrella cannot be written by any Scottsdale Company. Coverage Type Primary Umbrella $1 Million CSL REFER TO COMPANY 1. Target Risks Entertainment, Sports and Political personalities. May include highly visible professional or business personalities. 2. Applicants who have had more than one auto claim or liability claim that exceeds $5,000 in payment during the last five (5) years. 3. Applicant and/or other members of household who have been convicted of: a. A major traffic conviction during the last three (3) years unless that conviction is the only activity on the MVR. However, youthful operator with a major must be submitted. (Underlying limits of $500,000 or $500/500/100 required.) 2 Revised 5/12

3 b. More than three (3) minor moving convictions during the last three (3) years. (More than two minor moving convictions require $500,000 or $500/500/100 underlying.) c. More than one (1) at-fault accident during the last three (3) years. (Underlying limits of $500,000 or $500/500/100 required.) 4. Additional Insured must be an irrevocable, living or family trust in the insured name only. 5. Apartments 6. Farms See Farm Guidelines 7. Vacant Land must have coverage under a CPL policy SPECIFIC UNDERWRITING GUIDELINES 1. Named Insured Policy may be written in the name of an individual and/or spouse (domestic partner) or irrevocable, living or family trust. (Corporations, Partnerships or LLC s as Named Insured are ineligible.) 2. Automobiles: $1 - $5 Million includes two (2) vehicles. $6 - $10 Million includes three (3) vehicles. a. Must obtain current MVR s on all drivers. b. More than seven (7) owned vehicles refer to company. c. Corporate owned autos are not eligible. Exception if insured owns the corporation, then attach the Entity Controlled by the Named Insured Endorsement. d. Youthful drivers (under age 22) $1 - $5 million with any driving activity must carry $500,000 or $500/500/100 minimum underlying limits $6 - $10 million must carry $500,000 or $500/500/100 minimum underlying limits e. Medical Statements required at age 76 and over when there is driving activity and age 90 and over with or without driving activity. f. Motorhomes must have the Motorhome Endorsement. g. Uninsured / Underinsured (UM/UIM) of $25,000 is provided in the Primary Umbrella coverage form. See State Specific Exceptions for states with higher limits available. 3. Property: $1 - $5 million includes one (1) residence. $6 - $10 million includes two (2) residences. a. Without underlying CPL, entire umbrella is ineligible. 3 Revised 5/12

4 b. Comprehensive General Liability (CGL) is ineligible as underlying coverage. c. More than eight (8) owned residences refer to company. d. *Apartment One (1) apartment building only. Maximum of six (6) units and two (2) stories (minimum underlying required) Personal Injury coverage required on underlying policy. e. *Farms If owned and operated by the insured, must have Farm CPL. If Lessor s Risk only, refer to specific Farm Guidelines. f. *Vacant Land Must have CPL underlying coverage with a minimum of $300,000 CSL. Charge for all acreage combined. * Refer to Company for approval 4. Watercraft: Agent has authority for eligible watercraft under 300 HP and 50 MPH. a. Horsepower Over 300 HP or 50 MPH, refer to Company for approval. (Does not apply to Personal Watercraft.) b. Personal Watercraft (Jet Ski, Wave Runner, etc.) may be written. Youthful operators will require a $500,000 CSL underlying. c. Racing boats are ineligible. d. Any form of Ocean Marine coverage is ineligible. Watercraft may be excluded. e. Ski boats Verify that the full limits apply for water skiing activities. f. Any watercraft over 40 in length, attach USL&H Exclusion. g. Watercraft may be excluded; attach the Watercraft Exclusion Endorsement. 5. Farms (Refer to Company) The intent is to provide coverage for your personal exposures at a farm location. We do not provide coverage for any commercial farming exposures. These should be covered by a Farm or commercial umbrella. a. No more than 5 employees. b. No Partnerships as Named Insured. Farm partnership may be written in an individual s name attaching the Co-owners Interest Endorsement. c. Joint family ownership: If residing on farm, may write policy in joint names; if not, then requires a separate policy for each and attach the Co-owners Interest Endorsement. 4 Revised 5/12

5 d. No commercial underlying policies. $300,000 Farm comprehensive personal liability (FCPL) or comprehensive personal liability (CPL) is acceptable as underlying. e. No tobacco farms f. Animals are limited in numbers as follows: Horses no more than 50 head Cattle no more than 250 head Sheep no more than 250 head Pigs no more than 250 head g. Acreage 300 acres or less included in Farm premium. Over 300 acres, charge separately using the Vacant Land rates. Grazing only land no more than 2,000 acres Farming only land no more than 1,200 acres h. Leased land to others, or by the insured, is acceptable for acreage only. No tenant occupied farms. i. Farm Equipment If extended from underlying CPL/FCPL, no premium is charged and vehicle does not need to be licensed. One (1) ton or over vehicles require minimum underlying limits of $250/500/100 and premium is charged. 5 Revised 5/12

6 STATE SPECIFIC EXCEPTIONS PRIMARY & EXCESS UMBRELLA Primary Umbrella Florida Exception: If Citizens is the underlying Carrier for Homeowner (CPL) or Rental Units, $100,000 Liability limit are allowed for an additional premium. UNINSURED/UNDERINSURED MOTORIST COVERAGE (UM/UIM) Primary Umbrella - limit of $1,000,000 UM/UIM may be provided for an additional premium in all states. Insured must maintain underlying UM/UIM coverage limits equal to the limits required for your underlying automobile liability coverage. Schedule of Underlying END 0001 will now have space for listing the underlying UM limits. We will be requiring the UM limits be the same as the BI underlying limits. Primary Umbrella - Form END 0426 must be attached if higher UM/UIM is purchased Excess Umbrella limit of $1,000,000 is available in Florida, Indiana, Louisiana, New Hampshire, Vermont, and West Virginia. The underlying Primary Umbrella limit must be at least $1,000,000 in order to purchase the limit of $1,000,000 on the Excess Umbrella policy. Excess Umbrella - Form END 0427 must be attached if UM/UIM is purchased Form NOTX0107CW (NOTS0342LA in Louisiana, NOTN0384VT in Vermont) must be completed at the time of application ADDITIONAL COVERAGES Identity Recovery Coverage (IDR) - in the event an insured has a theft of identity, coverage provides assistance in the restoration of credit history and identity records and reimbursement of associated expenses. Available on Non-Target Primary Form END 0433 (END 0433MO in Missouri) $25,000 aggregate limit provided Coverage not available in New Hampshire 6 Revised 5/12

7 TARGET UNDERWRITING GUIDELINES The following guidelines are unique to the Target Umbrella programs and are to be used in conjunction with the non-target guidelines. AVAILABLE LIMITS Primary $1 $10 Million (IN, LA, NH, VT & WV are limited to $1 Million maximum limit) Excess $1 $10 Million (IN, LA, NH, VT & WV are limited to $1 Million maximum limit.) BINDING AUTHORITY Submit all risks for underwriter approval and pricing. MINIMUM UNDERLYING REQUIREMENTS TARGET PRIMARY Coverage Type CSL or Split Limit Options Homeowner (CPL) $300,000** Auto $500,000 or $500/500/100 ($500/500/250 mandatory for 100% Target risks) ($250/500/100 or $300/500/100 for additional premium)* Watercraft $500,000* Rental Units $300,000** Vacant Land $300,000 Motorhomes $500,000 or $500/500/100 ($500/500/250 mandatory for 100% Target risks) ($250/500/100 or $300/500/100 for additional premium)* Farms (CPL or FCPL) $300,000 *Subject to Automobile & Watercraft guidelines ** $100,000 is available in FL, for an additional charge, if Citizens is the underlying Carrier. Not available for Mobile Homeowners, MINIMUM UNDERLYING REQUIREMENTS TARGET EXCESS Primary Umbrella cannot be written by any Scottsdale Company. Coverage Type CSL Primary Umbrella $1 Million 7 Revised 5/12

8 RATE MODIFIERS Modifiers are applied to total premium (except flat charges) before Policy Fee. Base Rates on rate charts reflect 100% Target modified Rates. Name Only Recognition Name & Visual Recognition Local Personality National Personality 40% 70% 60% 100% Rating Example: $2 million limit with 3 Vehicles using 40% Modifier excluding PI: Base + Applicable Charges = Total x Modifier = Premium $2,160 + $400 = $2,560 x.40 = $1,024 Premium PERSONAL INJURY Personal Injury (PI) is not included in the Target base premiums. Following Form PI may be available by request for an additional premium. 8 Revised 5/12