Introduction to Bumbershoot and Excess Liabilities

 
Tuesday 12 June 2018, 10:00am - 05:00pm
     

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Who Should Attend: Insurance company underwriters, trainees, claims personnel, surveyors, agents or brokers, shipowners, charterers, and marine attorneys who have an interest in this topic or would benefit from professional development.

Instructors:
Tracy Ann Kiffer, Navigators
Tracy Markowski, Prosight Specialty

Continuing Education Credits:  
6 credits in NY and TX
7 credits in NJ


COURSE OUTLINE

Coverage   Types 
The history of bumpershoot (origins)
Following form excess
The drop down clause and Aggregate Limits
Forms and retention wording
Insured under the policy
Understanding bumbershoot liabilities

Risk   Analysis
Understanding   Different Operation Types 
Role   of Statutory Workers Comp
Employers   Liability
Marine   Exposure
Marina   Operations
Operational   Expense

Underlying Requirement
Type   of Underlying Policies
Reading   the primary policy
Acceptable   Underlying Limits
Probably   Maximum Loss and Loss Severity
Underlying   Policy Deductibles and Aggregates
What   is not covered by the underlying
Underlying   Policies that Should Not Be Scheduled

Bumbershoot Form Review
Insuring   Agreement
General   Conditions
Definitions
Exclusions
Primary   Policies

Excess   Liability Rating 
Reviewing General Rating Approach 
Risk Modeling and its Application
Reviewing Layered Rating Approach
CAT exposures and modelling
Discussing Minimum Premiums

Account   Structure 
Bumbershoots Over Bumbershoots
Umbrellas
Exhaustion of underlying aggregate limits
Non-Marine
Writing Primary and Excess

Other   Underwriting Considerations
ERISA
Employment-Related Practices
Workers Compensation and Similar Acts
Fraud, Infidelity, Criminal Acts
Occupational Disease
Case Study and Wrap up

Program Features: Continental Breakfast Lunch Handouts & Lecture Notes

Special Assistance In Compliance with the  American's with Disabilities Act, AIMU will make all reasonable efforts  to accommodate persons with disabilities at its meetings. Please call  John A. Miklus at (212) 233-0550

Refunds/Cancellations
Refund requests will be honored if received at least 48 hours prior to the scheduled start date. All refunds will be subject to a processing fee of 4%. 


Location 14 Wall Street, 8th floor, New York, NY 10005
Contact Elvira Rodin at erodin@aimu.org
For questions about educational credits, contact our Education/Training Specialist, Eileen Monreale
Office phone: 212-233-0550
Emails: emonreale@aimu.org

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