Umbrella/Excess - Prof Liability - Policy Form

  • 24 April 2023
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Umbrella/Excess - Prof Liability - Policy Form
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When I sought the exception of coverage requirements pertaining to providing full policy pages, the details about the policyholder’s lack of authority to provide full policy pages were provided to me. To further strengthen the waiver for approval, I think that the willingness to provide Certificates of Insurance is also an important factor. 

An individual could create an insurance waiver for the following specifications based on the outline given below. 

 

Specifications: 

 

Waiver Type: Renewal/New Origination 
Insurance Type: Liability 
Insurance Term: Umbrella/Excess - Prof Liability - Policy Form

 

Template Outline: 

 

#1 - What details should be included in the opening section of the waiver?  

The opening section of the waiver should clearly state the requestor’s identity and the purpose/type of waiver being requested. The example provided below can be used for further assistance. 

<Organization/Borrower name> is requesting a waiver for coverage requirements pertaining to full policy pages. These requirements include <Requirement details>.  

<Agent name> is requesting a waiver for coverage requirements pertaining to full policy pages on behalf of <Organization/Borrower name>. These requirements include <Requirement details>.  

 

#2 - How should the organization/borrower provide details for their lack of authority?  

When applying for the waiver, the organization/borrower can provide details about the reason for their lack of authority. Providing such information can help determine why the organization/borrower cannot comply with the requirements. Below is an example that can be used for additional guidance.  

<Organization/Borrower name> does not have the authority to provide <Required details>. The reason for the lack of authority is <Details about reasons for lack of authority>

 

#3 - How to emphasize the compliance efforts being made by the organization/borrower?  

The organization/borrower can emphasize the compliance efforts being made. This can be done by mentioning that Certificates of Insurance are being provided. The example below can be used for further assistance if needed.  

<Organization/Borrower name> is unable to provide the required details however, has provided the Certificates of Insurance.  

 

#4 - How to provide a justification for the waiver being requested?  

Before submitting the waiver, the organization/borrower should provide a justification as to why the waiver should be approved. This justification can be based on the details about why the organization/borrower is unable to provide the required details. In addition, the organization/borrower can also emphasize the compliance efforts they have made, as it can further strengthen the waiver.  


1 reply

Are the Certificates of Insurance the only supplementary evidence we can provide? What else can we use to build a strong case?

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