Chubb Commercial Excess and Umbrella Insurance

Chubb Commercial Excess and Umbrella Insurance

hen you purchase an insurance policy, you expect your insurance company to uphold its promises.you can count on Chubb we ve been providing property and casualty insurance solutions since 1882. Our financial stability and claims philosophy continue to earn high ratings from leading independent evaluators of the insurance industry. The quality of an umbrella policy s terms and conditions is one of the principle criteria for selecting an umbrella insurer. Chubb s policy provides you with top-quality insurance protection. In addition to writing over other carriers, our umbrella policy is part of our suite of integrated liability products including Chubb s hallmark Customarq General Liability, Reputation Injury and Communications Liability and Errors & Omissions Liability contracts.take a look at what our umbrella policy offers. Insuring Agreements Chubb is one of the few insurance companies that offers an umbrella policy that features two separate insuring agreements this feature helps to ensure your protection in the event of a catastrophic loss. Coverage A - Excess Follow Form Insurance - Limits gaps in insurance protection by adopting the provisions of your scheduled primary policies (with few exceptions) - Allows greater flexibility in adapting to various or unique primary insurance policies, such as miscellaneous professional/errors and omissions, global, aviation, marine and liquor - Pays on behalf of the insured Coverage B - Umbrella Liability Insurance - Insures against bodily injury, property damage, personal injury and advertising injury losses on an occurrence/offense basis, when no underlying insurance applies - Umbrella Liability Coverage B exclusions do not restrict the protection available under Excess Follow Form Coverage A - Coverage territory is anywhere and is supported by Chubb s network of offices worldwide - Pays on behalf of the insured - No self-insured retention - Includes protection for: - Nonowned aircraft with crew - Nonowned watercraft - Autos outside the United States, Puerto Rico or Canada - Advertising/personal injury contractual liabilities - Advertising/personal injury for insured s media businesses - Damage to alienated premises - Damage to third party property in the insured s care, control or custody - Business and host liquor liability - War and insurrection - Loss events and suits outside the United States

Defense and Supplementary Payments Versatile Limits Duty to defend suits on behalf of the insured Supplementary payments, including defense expenses, are payable under Coverage A (on a follow form basis) and Coverage B, in addition to the limits of insurance Supplementary payments include: - Defense expenses and court costs - Pre- and post-judgment interest - Expenses incurred at our request, including up to $1,000 per day in lost earnings - Cost of appeal, attachment and bail bonds for bond amounts up to the available limits of insurance - Payments for expenses approved by us associated with covered losses, such as: 1) communications (e.g., announcements, mailings and other media), 2) crisis consultants and counseling services, and 3) logistics and travel A key feature of Chubb s umbrella policy is the provision of several separate aggregate limits advertising injury and personal injury, products/completed operations, excess coverage other and umbrella coverages which do not impair or erode each other. By offering separate aggregate limits, you get more insurance where and when you need it. Advertising Injury and Personal Injury Aggregate A separate aggregate limit dedicated to all advertising injury and personal injury losses under the policy Products/Completed Operations Aggregate A separate aggregate limit dedicated to all products/completed operations losses under the policy Excess Coverage Other Aggregate - Under Coverage A, separate aggregate limits (nonadvertising/personal injury, nonproduct/completed operations) provided for each coverage or policy as described in the Schedule of Underlying Insurance (e.g., separate per location, per project and per policy aggregate limits) - Under Coverage A, no aggregate limit is imposed if the underlying insurance does not apply an aggregate (e.g., auto liability insurance) Umbrella Coverages Aggregate A separate aggregate limit dedicated to umbrella losses (nonadvertising/personal injury, nonproduct/completed operations). Unlike single insuring agreement policies, true umbrella losses under our policy are afforded a separate aggregate limit. Drop Down Provisions Under Coverage A, our drop down provisions limit gaps in protection by applying when scheduled underlying limits are eroded or exhausted due to: Losses paid under scheduled underlying insurance that occur before our umbrella policy s effective date Losses paid under scheduled underlying insurance not included in the scope of our umbrella policy In addition, there is no requirement to reinstate or replace underlying limits eroded or exhausted by paid losses.

Who Is An Insured Excess Follow Form - Coverage A - Helps protect anyone who is an insured in the scheduled underlying policies, including joint ventures, partnerships and limited liability companies Umbrella Liability - Coverage B includes the following as insureds: - Subsidiaries controlled by the first named insured - Newly acquired or formed organizations until the end of the policy period (for losses after acquisition) - Employees, including for fellow employee injuries - Volunteer workers - Lessors of equipment - Lessors of premises Definitions Conditions The policy definitions are broken into distinct groups for clarity Policy definitions and Umbrella Coverage B definitions. Excess Follow Form Coverage A adopts definitions from scheduled underlying insurance, limiting gaps in protection Umbrella Liability Coverage B definitions do not restrict the protection available under Excess Follow Form Coverage A Several Umbrella Liability Coverage B definitions are broader in scope than standard general liability definitions, for example: - Bodily injury includes mental anguish, mental injury, shock and humiliation, if resulting from physical injury, sickness or disease - Insured contract includes both oral and written contracts and is extended to include damages because of personal injury and advertising injury - Personal injury includes discrimination, harassment and segregation (nonemployment-related) - Advertising injury includes infringement of copyright and registered trademarks in advertisements Failure to maintain underlying insurance will not invalidate the umbrella policy (it will apply as though underlying insurance had been maintained) 60 days notice of cancellation and nonrenewal, except for nonpayment of premium Unearned premium is calculated pro-rata (not short-rate) Broadened notice and knowledge of occurrence or offense Waivers of subrogation recognized, if executed before loss If you re looking for an insurance company that truly understands the complexity of umbrella insurance, then look to Chubb for solutions to your umbrella insurance needs. For more information, contact your local agent, broker or your Chubb underwriter.

Chubb refers to the member insurers of the Chubb Group of Insurance Companies: Federal Insurance Company, Pacific Indemnity Company, Great Northern Insurance Company,Vigilant Insurance Company, Northwestern Pacific Indemnity Company,Texas Pacific Indemnity Company, Chubb Custom Insurance Company, Chubb Indemnity Insurance Company, Chubb Insurance Company of New Jersey, Executive Risk Indemnity Inc., Executive Risk Specialty Insurance Company. Not all insurers do business in all jurisdictions. This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Chubb Group of Insurance Companies Warren, New Jersey 07059 www.chubb.com Form 07-01-0068 (Rev. 6/02)

Commercial Excess Follow Form Insurance

Alitigious environment. Multimillion-dollar jury awards. Escalating defense costs. You need an insurance program that helps provide protection against these threats to your company s balance sheet. It s never been more important to insure your business with an insurance company that understands today s complex risks and can offer a strong Excess liability program. You need Chubb.We ve been providing casualty and property insurance solutions since 1882, and we continue to earn high ratings from leading independent evaluators of the insurance industry for our financial stability and claim service. When selecting an Excess insurer, it s important to consider the policy s terms and conditions. Chubb s Commercial Excess Follow Form insurance policy is a cut above the rest. In addition to writing over other carriers, our Excess policy can be written in combination with a suite of integrated liability products from Chubb including our hallmark Customarq General Liability, Umbrella and Errors & Omissions contracts.take a look at what our Excess policy offers. Features Benefits INSURING AGREEMENT Follow form policy adopts the provisions of the controlling underlying insurance, with limited exceptions. Provides responsive excess insurance for exposures covered by policies you designate, regardless of their position in your layered excess program. Offers greater flexibility by adapting to various or unique primary and excess insurance policies, such as miscellaneous professional/errors and omissions, global, aviation, marine and others. Adopts the varied triggers of controlling underlying insurance such as occurrence, claims made and reported occurrence. Protection is not restricted by the exclusions, definitions or other provisions of intervening layers of insurance. Pays on behalf of the insured. Responds to the loss at our attachment point based on our provisions and those of the controlling underlying insurance. Less disruptive to your cash flow.avoids your having to pay losses first and seek reimbursement afterward. DEFENSE AND SUPPLEMENTARY PAYMENTS Defense and supplementary payments are provided in addition to the limits of insurance when such is the case with all underlying insurance. Supplementary payments include pre- and post-judgment interest. Preserves your policy limits for payment of claims. Provides a more complete response to judgments against you.

LIMITS OF INSURANCE Application of limits is consistent with your underlying program. No Other (non-products) aggregate limit if none is applicable to all underlying insurance. No requirement for reinstatement or replacement of eroded or exhausted underlying limits. Insurance will respond directly over reduced or exhausted underlying limits of insurance when all other applicable underlying insurance does the same. Recognizes underlying limits erosion for coverage that is broader than ours. Financially solid capacity. Provides you with excess limits of insurance that apply in the same manner as your underlying policies. If, for example, all underlying insurance limits apply unaggregated per location, per job site or per policy, ours will too. Puts unrestricted limits at your disposal to meet non-products claims. Frees you from the necessity and expense of rebuilding your underlying insurance program should it be eroded or exhausted by claims. Provides potential first-dollar protection for successive losses occurring within our policy period. Could provide you with first-dollar drop-down insurance protection for your next loss. Provides peace of mind that the insurance you purchase from us today will be there to pay future liability claims. COVERAGE TERRITORY Follow form protection. Protects you wherever controlling underlying insurance protects you. WHO IS AN INSURED All insureds in controlling underlying insurance are protected. Helps maintain continuity of insurance protection in your excess liability program. CONDITIONS Failure to maintain underlying insurance or insolvency of underlying insurer(s) will not invalidate the policy. Return premiums are calculated pro-rata (not short-rate). Ensures that the insurance you purchased will be available as if underlying insurance was maintained. No premium penalty should you need to cancel the insurance.

Includes broadened notice and knowledge of occurrence, offense, claim or suit. Waivers of subrogation are recognized, if executed before loss. Does not hold you responsible for failing to notify us, unless your officer knows. Notice to our licensed agent is notice to Chubb. Honors your business decision to waive the liability of others for loss. OTHER FEATURES Adopts definiti0ns and exclusions of controlling underlying insurance. Policy does not exclude punitive damages. Policy contains few definitions. Helps maintain consistent scope of insurance protection in your excess liability program. Insures punitive damages if controlling underlying insurance does (if such damages are insurable). More closely follows the controlling underlying insurance. For an insurance company that truly understands the complexity of excess liability protection, look to Chubb. Contact your agent or broker to inquire about Chubb s Excess Follow Form insurance policy. Chubb refers to the insurers of the Chubb Group of Insurance Companies: Federal Insurance Company,Vigilant Insurance Company, Great Northern Insurance Company, Pacific Indemnity Company, Northwestern Pacific Indemnity Company, Texas Pacific Indemnity Company, Executive Risk Indemnity Inc., Executive Risk Specialty Insurance Company, Quadrant Indemnity Company, Chubb Custom Insurance Company, Chubb Indemnity Insurance Company, Chubb Insurance Company of New Jersey, Chubb National Insurance Company, Chubb Lloyds Insurance Company of Texas. Not all insurers do business in all jurisdictions. Chubb Group of Insurance Companies Whitehouse Station, New Jersey 08889 www.chubb.com This literature is descriptive only.actual coverage is subject to the language of the policies as issued. Form 07-01-0080 (Rev. 11/05)