When it Rains it Pours: Commercial Umbrella Insurance

Shielding Businesses from Costly Liability Claims

$8.00 + your state filing fee
4 Credit Hours

This course favors P&C insurance agents but is applied as general credit for all agents.

COURSE DIFFICULTY

Basic
This course covers the following topics:
  • Review Umbrella policies and other types of “excess” policies
  • Discuss Commercial Umbrella Policies’ unique features as well as its limitations
  • Examine the role of commercial umbrella and excess insurance in the package of coverages required by many business and commercial interests

Summary

Due to the increasingly litigious nature of our society, commercial umbrella insurance is one of the more important policies that a business can buy. An umbrella policy differs from other commercial insurance policies because it only applies coverage once the primary policy or policies have been exhausted by claims payments. Umbrella policies and other types of “excess” policies have many unique features, as well as some limitations, that will be discussed in this course. This course will give students a broad understanding of the role of commercial umbrella and excess insurance in the package of coverages required by many business and commercial interests.

Outline

1. Introduction

  • 1.1 Purpose of this Course
  • 1.2 The Role of Commercial Umbrella Insurance
  • 1.3 Summary

2. Understanding Umbrella

  • 2.1 Umbrella Coverage Terminology
  • 2.2 How the Coverage Works
  • 2.3 Underlying Limits and Risks
  • 2.4 Maintaining Underlying Insurance
  • 2.5 Summary
  • Chapter 2 Quiz

3. The Structure of an Umbrella Policy

  • 3.1 The Declarations
  • 3.2 Common Policy Conditions
  • 3.3 The Schedule of Underlying Insurance
  • 3.4 The Policy Coverage Form
  • 3.5 The Coverages
  • 3.6 Who is an Insured?
  • 3.7 Limits of Insurance
  • 3.8 Conditions
  • 3.9 Definitions
  • 3.10 Endorsements
  • 3.11 Summary
  • Chapter 3 Quiz

4. Conclusion

  • 4.1 In Conclusion

Final Exam

  • Final Exam

FAQ

Q: What should I expect from this online course?

A: We use a unique system to help you learn the material easily. Our online courses present you with information in large type that is easy to read. We highlight key items in gray and quiz you after each chapter to make sure you are learning critical information. You may review the material as much as you want before taking your required online, multiple-choice exam. Passing the exam proves your proficiency in that subject to your state’s governing authority.

Q: Can I print my online course materials and test questions?

A: According to the state authority, it is not permissible to print or download any course material or exam questions. However, you are free to access all online courses from our website anytime.

Q: How long does it take to complete an online course?

A: The time required to complete an online course varies from student to student, but it roughly approximates the number of credit hours awarded for the course. You must pass an online, multiple-choice exam. Passing the exam proves your proficiency in that subject to your state’s governing authority.