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Time To Standardize Personal Umbrella Insurance Policies

Over the years, umbrella policies have become more and more restrictive and more and more difficult to analyze and compare with the competition. In this article I make a case for standardizing these policies. I appeal to the insurance industry collaboratively or the National Association of Insurance Commissioners (NAIC) legislatively to create universal standardized umbrella policies so that both agents and consumers will know exactly what they are buying just by the policy form number (much like homeowners policies).