Venture Insurance Programs, a national program administrator in the design and underwriting of select industry-focused insurance packages, announced that its Preferred Club Program® has introduced a mono-line Umbrella Liability product with broad coverage and improved flexibility and stability.
The Umbrella coverage can be placed over any primary insurance policy as long as the underlying insurers maintain “A-” VI or better ratings through A.M. Best Co. Limits are $25 million with optional limits up to $50 million. Coverage is underwritten through the Chubb Group of Insurance Companies, rated A++ by A.M. Best Co.
“The Preferred Club Program’s new Umbrella product provides higher limits, broader coverage and greater flexibility at lower rates than most clubs are paying today,” said Michael DeMarco, Executive Vice President of the Preferred Club Program. “And with the product underwritten by Chubb, we are offering a stable market that clubs can rely on.”
The Umbrella Liability product is offered through Venture’s newly formed Risk Purchasing Group.
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