Introduction to Bumbershoot and Excess Liabilities

Thursday 13 June 2024, 10:00am - 05:00pm

Remote and in-person attendance available (limit of 20 people in class) 

About the AIMU Virtual Classroom
AIMU utilizes the GoToWebinar and GoToTraining platforms, which allow full attendee engagement through Q&A and chat panels, and interactive polling with video engaged for all instructors. Attendees can ask questions in real time and share experience and information with other students in the class. Classes are instructed by subject matter experts who are leaders in their individual fields.

Location for the in-person attendees:
14 Wall Street, Suite 820
New York, NY 1005

This introductory class will cover types of coverage, risk analysis, underlying requirements, bumbershoot form review, excess liability rating, account structure and other underwriting considerations.

Who Should Attend: Insurance company underwriters, trainees, claims personnel, surveyors, agents or brokers, shipowners, charterers, and marine attorneys who have an interest in this topic or would benefit from professional development.

Tracy Ann Kiffer, The Hartford
Tracy Markowski, RB Jones 

Continuing Education Credits:  
6 credits in NY and TX; 7 credits in NJ


Coverage   Types 
The history of bumpershoot (origins)
Following form excess
The drop down clause and Aggregate Limits
Forms and retention wording
Insured under the policy
Understanding bumbershoot liabilities

Risk   Analysis
Understanding   Different Operation Types 
Role   of Statutory Workers Comp
Employers   Liability
Marine   Exposure
Marina   Operations
Operational   Expense

Underlying Requirement
Type   of Underlying Policies
Reading   the primary policy
Acceptable   Underlying Limits
Probably   Maximum Loss and Loss Severity
Underlying   Policy Deductibles and Aggregates
What   is not covered by the underlying
Underlying   Policies that Should Not Be Scheduled

Bumbershoot Form Review
Insuring   Agreement
General   Conditions
Primary   Policies

Excess   Liability Rating 
Reviewing General Rating Approach 
Risk Modeling and its Application
Reviewing Layered Rating Approach
CAT exposures and modelling
Discussing Minimum Premiums

Account   Structure 
Bumbershoots Over Bumbershoots
Exhaustion of underlying aggregate limits
Writing Primary and Excess

Other   Underwriting Considerations
Employment-Related Practices
Workers Compensation and Similar Acts
Fraud, Infidelity, Criminal Acts
Occupational Disease
Case Study and Wrap up

Program Features: Electronic Handouts & Lecture Notes

Special Assistance In Compliance with the  American's with Disabilities Act, AIMU will make all reasonable efforts  to accommodate persons with disabilities at its meetings. Please call  John A. Miklus at (212) 233-0550

Refunds/Cancellations/Substitutions: Refund requests will be honored if received at least 48 hours prior to the scheduled start date. Cancellations received after the refund deadline and "no shows" are subject to the full registration fees. Substitutions may be made by notifying AIMU via email

AIMU reserves the right to postpone, cancel, or amend a class schedule at any time.

Attendees are not permitted to record, share, copy, or distribute any AIMU education.

Location virtual or in person at 14 Wall Street, 8th floor, New York, NY 10005

Contact Elvira Rodin at or 646-499-0313