Several Personal Umbrella Carriers to Implement Major Changes

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Recent announcements from several personal umbrella carriers outline major changes in coverage that will leave agents scrambling to find a new market for their clients. 

For example, one major standalone umbrella carrier will begin requiring underlying auto liability limits of at least $1 million in some states and $500,000 in all others. That carrier will also require $1-million underlying uninsured/underinsured motorist coverage limits when excess UM/UIM  is purchased. 

Other carriers, meanwhile, have announced that they will be non-renewing all their personal umbrellas nationwide.

IAAC has personal umbrella markets to assist agents if they are dealing with carrier shifting underwriting guidelines.​ 

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