Earthquake
On August 23, 2011 an Earthquake in this major city damaged the Washington Monument, and was felt as far north as Massachusetts
What is Washington,DC
This form, completed by a certified technician, is required by underwriting in order to add Oil Remediation Coverage
This split limit coverage is required to qualify for most umbrella policies.
What is 250/500?
Following a catastrophic liability loss, this famous 80s wrestler's E&O claim was body slammed and thrown out after his agent was able to provide proof of repeated offers and declinations of an umbrella policy.
Who is Hulk Hogan
This is a best practice reply to "I don't live in a flood zone"
What is "Everyone lives in a flood zone. Some are lower risk and others are higher risk"
Arbella Insurance offers this minimum deductible option for Earthquake coverage on the HO form
What is 5%
Since this year each Property & Casualty Company doing business in Massachusetts has been required to offer Oil Remediation and Liability Coverage
What is 2010.
Often times the premium difference for $250,000 of this coverage is only roughly $4.00 more annually compared to $100,000 of coverage
What is Damage to Someone Else's Property?
This type of home liability coverage synonymous with ambulance chasing lawyers, is required to be eligible for an umbrella policy.
What is Personal Injury Coverage
According to FEMA 25% of floods surprisingly take place in in these areas.
What is low to moderate risk zones.
This is the out of pocket dollar amount for an Arbella Insured who has an Earthquake loss on a home with $500,000 of Coverage A.
$25,000
These limits of $100,000, $300,000 and $500,000 represent this type of Oil Remediation Coverage.
What is Escaped Liquid Fuel Liability Coverage (per occurrence) options.
This is Bearingstar's recommended Part 5 Optional Bodily Injury coverage.
What is 250/500?
As agents, we have zero authority for this in relation to an umbrella policy
What is Binding Authority.
According to Bearingstar.com if "Mr. Klopp arrives home from work to find that sewage has backed up through many of his drains" and has flooded his carpets and furniture he can file a claim under this coverage.
What is Water back up and Sump pump overflow.
The 1755 Cape Anne/Boston Earthquake is believed to have been a 6.5 measure of this outdated magnitude scale.
What is the Richter Scale.
$50,000 and $100,000 represent these limits of liability for Oil Remediation
What is Escaped Liquid Fuel Remediation Coverage (per occurrence) options
In order to have coverage on private roads and outside of Massachusetts for injuries you must carry this coverage.
What is Optional Bodily Injury to Others.
These geographic areas are excluded territory for an umbrella policy.
What is none? The Umbrella provides worldwide liability coverage.
According to FEMA this many acres and this many properties must be impacted (by the larger definition) in order to qualify as a Flood.
What is 2 and 2.
The Newly Branded Arbella Premier Plus Coverage provides this amount of Earthquake Coverage.
What is $0.00
The class numbers 100 and 200 represent these two risk determining factors for the oil tanks location.
What is above ground and buried below ground.
In Massachusetts the minimum liability limit is 20/40, but insurers must offer at least this still too low amount for additional Bodily Injury to others.
What is 35/80
What is $1Million. Underlying limits must be 250/500
This is the lesser of the outstanding principal balance of the loan, the maximum amount available under the NFIP for the type of structure, or the insurable value of the property.
What is The minimum amount of flood insurance required.