Which of the Following Statements About a Typical Personal Umbrella

question 28

Multiple Choice

Which of the following statements about a typical personal umbrella policy is (are) true?
I.Losses covered under an underlying policy and the umbrella policy are settled on a pro rata basis.
II.Losses not covered by the basic underlying contracts are subject to a self-insured retention which typically is at least $25,000.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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