CRIS

Umbrella Liability Insurance for Contractors

Course Details

hours
6.0
price
$149.00
This course is not subject to discount pricing.

Additional Credit Available:

Add AFIS Renewal Credit
Add ERIS Renewal Credit
Add MRIS Renewal Credit
Add MLIS Renewal Credit
Add TRIP Renewal Credit
Add Insurance CE

Delivery Method: 

QAS Self-Study

PDF Download: 

Available

Provider of Record: 

WebCE

Field of Study: 

Specialized Knowledge

Prerequisites: 

None

Access Period:

12 months

Exam Requirements

Proctor Required: 

No

Passing Grade: 

70%

Questions: 

50

Retakes: 

Unlimited

Please note: Adding Additional Credit may change exam requirements.

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.

Learning 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

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.

Advanced Preparation

None

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