Which of the Following Statements About a Typical Personal Umbrella

Multiple Choice

Which of the following statements about a typical personal umbrella policy is (are) true?
I.Losses covered under an underlying policy and the umbrella policy are settled on a pro rata basis.
II.Losses not covered by the basic underlying contracts are subject to a self-insured retention which typically is at least $25,000.

A) I only
B) II only
C) both I and II
D) neither I nor II