Liability Insurance

The Housing Partnership Insurance liability policy, issued by Lexington Insurance (a subsidiary of the AIG Companies), covers member organizations against claims for bodily injury and property damage arising from their operations. The limit of liability is $1 million per occurrence, with a $2 million annual aggregate. Medical expense is included in the policy, with a $10,000 limit per person. The basic policy has no deductible, but this may be negotiated. The Housing Partnership Insurance also retains the first $500,000 of all liability claims and has placed reinsurance with AIG for the excess layers. The liability policy contains many coverage extension options, including construction liability.

Liability coverage includes:

• General liability
• Product liability and completed operations
• Blanket additional insureds
• Personal injury liability
• Employee benefits liability
• Owners and contractors protective liability
• $1 million limit per occurrence
• $2 million general aggregate limit
• $10,000 medical expense