In what year was the personal umbrella policy developed??

Question

In what year was the personal umbrella policy developed??

Answer 1

It's a fine question, but with thousands of companies out there free to develop their own products, I don't know how you can determine which company was first and when.

If I had to guess the company, I would guess the now defunct INA, who seemed to be an innovator.

Answer 2

Here is an article that talks all about it:  http://www.irmi.com/Expert/Articles/2000...

And it says:  Umbrellas did not become widely known and sold until the 1960s, and many businesses did not purchase their first umbrella policy until the 1970s.

Answer 3

Well, each company wrote their own, for ages!  And now, most companies don't write a personal umbrella - it's a personal excess liability policy - much more limited in scope.