What it does
CU 21 48 provides an extended reporting period related to terrorism coverage for claims-made coverage parts attached to the umbrella. ISO maintains a family of umbrella terrorism endorsements so the umbrella can follow the insured's election under the federal Terrorism Risk Insurance Program and the underlying policies.
Who needs it
Umbrella accounts where the terrorism offer, rejection or state rules call for this version.
How it fits the umbrella
The umbrella has its own exclusions that apply whether or not the underlying policies cover the claim, and many ISO umbrella exclusion endorsements mirror a CGL or auto exclusion so that the umbrella does not drop down where the underlying is excluded. When an underlying policy carries an exclusion, check that the umbrella carries the matching CU endorsement, or explain the gap if it does not.
Quoting and selling notes
- Match the umbrella terrorism endorsement to the underlying CGL and auto terrorism forms.
- Keep the signed terrorism offer or rejection in the file.
