Due to increasing social inflation and jury rewards, requests for larger excess limits are becoming more of a must-have coverage than an optional coverage. This coupled with reduced capacity by many excess carriers of $5 million max limits has allowed Devon Park Specialty to help fulfill $10 million excess requests by providing up to $5 million excess layering limits anywhere in a $20 million excess tower for over 300 different eligible classes.
With the landscape of the excess liability market changing and tightening, let Devon Park Specialty help you build the proper program to protect your insureds!
Eligible classes include:
- Apartments with up to 100 units per location/500 units per policy
- Artisan contractors with up to $2 million in receipts
- Bars with up to $6 million in receipts (excess liquor not available)
- Condo and homeowners associations with up to 500 units
- Fitness centers with up to $6 million in receipts
- Houses of worship with up to 30,000 square feet
- Janitorial services with up to 50 workers
- Lessor’s risk with up to 200,000 square feet
- Offices with up to 500,000 square feet
- Restaurants with up to $10 million in receipts (excess liquor not available)
- Vacant land with up to 5,000 acres
- Vacant properties with up to 500,000 square feet
Our product features include:
- Ability to be either the lead excess or excess layering (high excess) carrier (but not both simultaneously)
- Minimum attachment point for lead excess is $1 million
- Umbrella coverage available over general liability, auto liability (where available) and employer’s liability
- No self-insured retentions
- No requirement to be concurrent with primary coverage
- Access to our Business Resource Center offering tenant screenings, background checks, human resources consulting services, payroll processing services, collection services and marketing resources
For more information on our Excess Layering product, please contact your Commercial Lines Underwriter or send your submissions to [email protected].
We do not write this product in AL, LA, NE and WV.
