Umbrella Liability Insurance for Contractors

Overview

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.

Find this course for your license


License or Certification 

 

Regulator 

 

Type 

 


Objectives

  • 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

Designed For:

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


WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.

Course Information

Adding additional credit may change exam requirements.

Advanced Preparation: None