Commercial General Liability Insurance

Requirements

You must ensure the general liability insurance coverage is at least

$1 million per occurrence/$2 million general aggregate limit, plus
excess/umbrella insurance as follows:

If the number of aggregate units covered by the policy is...	The minimum excess/umbrella insurance coverage is...
Up to 250	$1 million
251 - 500	$2 million
501 - 1,000	$3 million
1,001 - 2,000	$5 million
2,001 - 5,000	$10 million
5,001 - 10,000	$15 million
More than 10,000	$20 million

The following maximum deductibles or self-insured retention, or combined deductible and self-insured retention, apply to

general liability,
umbrella/excess liability, and
professional liability.

Maximum Deductibles for All Other Perils
For...	The maximum deductible amount per occurrence based on the Total Insurable Value is...
Specific Limit Insurance Policy
Specific Limit Policies	$50,000
Blanket Deductibles
Blanket Policies	$250,000
Expanded Deductibles¹
Policies other than NFIP less than $10 million	$100,000
Policies other than NFIP $10 million or more	$150,000
1 Expanded deductibles must meet all of the following: the Borrower evidences liquid assets equal to at least 4x the deductible amount; the Mortgage Loan has a Pass rating, is not currently delinquent, and has not been delinquent within the last 12 months; the Property Condition Rating is a 2 or better; and you annually review the Mortgage Loan’s eligibility.

You must ensure the aggregate coverage meets or exceeds the required minimum limits using any combination of

primary liability insurance, and
excess/umbrella insurance coverage.

Guidance

You should ensure that any liability policy does not contain exclusions for normal coverage that are normal and customary in the standard liability form, such as

assault and battery,
animal attacks, and
firearms, etc.

The maximum deductible amount, per occurrence, is the combined deductible for both the

underlying general or professional liability, and
excess/umbrella liability.