Which of the following statements concerning personal umbrel…

Which of the following statements concerning personal umbrella liability insurance is (are) correct? The personal umbrella policy is designed primarily to provide liability coverage for catastrophic legal claims or judgments. The personal umbrella policy requires the policy owner to carry certain underlying liability coverages of specified minimum amounts on both the homeowner’s policy and the PAP. A claim made under an umbrella policy will pay only after the required limits of the relevant underlying policy have been paid either by the underlying policy, or by the insured if the required minimums are not carried.  

Which of the following statements concerning the personal au…

Which of the following statements concerning the personal auto policy (PAP’s) Part A Liability Coverage is (are) correct? Part A of the PAP provides payment for the reasonable and necessary medical expenses of an insured as a result of an automobile accident. The insureds under Part A include the named insured, spouse, and any family members while occupying either a motor vehicle designed for use on public roads or a trailer, OR when struck as a pedestrian by such a vehicle or trailer.