Final Exam - Personal Umbrella

Question 1

Personal Umbrella Policy

Answer 1

additional/ broader coverage that protects against catastrophic personal lawsuits or judgments

Question 2

What are the coverage limit of PUP?

Answer 2

1-10 million

Question 3

Does the PUP require an underlying limit?

Answer 3

Yes

Question 4

What is the premium range for PUP?

Answer 4

200-250 annually

Question 5

What does the umbrella agree on?

Answer 5

agrees to pay excess damage and provide legal defense

Question 6

Coverage limit required for auto

Answer 6

250000 / 500000 / 50000

Question 7

Coverage limit required for homeowner

Answer 7

300000

Question 8

Coverage limit required for watercraft

Answer 8

500000

Question 9

What are some examples of broad coverages?

Answer 9

Personal injury, non-owned watercraft, worldwide auto

Question 10

Exclusion of Umbrella

Answer 10

expected or intentional injury, business liability, communicable disease, professional services, D&O