The litigious nature of American society arguably makes a commercial umbrella policy the most important kind of insurance policy that a business can purchase. But umbrella policies are unique in that they provide coverage after a primary policy has been exhausted by the payment of claims. This course examines various coverage concepts that are unique to umbrella policies, such as the scope of coverage provided by an umbrella policy insuring agreement; common limitations and restrictions imposed on contractors; and the conflicts between construction contract provisions and umbrella policy conditions.

• Identify reasons why contractors need umbrella coverage
• Recognize the structure and key functions of umbrella coverage
• Recognize the scope of coverage provided by an umbrella policy insuring agreement and the significance of common conditions, limitations, and restrictions  
• Identify conflicts between construction contract provisions and umbrella policy conditions; and
• Given relevant information, recognize coverage gaps between umbrella policies and underlying policies and identify possible remedies

Property and casualty insurance agents, risk, safety, and finance professionals