Business Moves

The Hartford, Berkshire Hathaway, First State

The Hartford Financial Services Group Inc. announced that its First State Management Group has formed a strategic relationship with certain members of the Berkshire Hathaway group of insurance companies to offer expanded levels of surplus lines commercial property insurance.

Under the agreement, First State, an underwriting manager for The Hartford, will leverage the capacity of The Hartford’s subsidiary surplus lines insurance companies with capacity from the Berkshire Hathaway Group’s National Fire & Marine Insurance Co., National Indemnity Co. and National Indemnity Co. of the South.

Policies under this arrangement will be offered on a quota share subscription, or “combination” basis, meaning that each company is responsible for a certain portion of the risk. In most cases, the risk will be shared equally. Each company will be severally, not jointly, liable for its respective participation.

Coverage limits, on average, are expected to be twice as high as those previously made available by First State. Depending on the risk, limits could reach $25 million.

First State will manage all underwriting, distribution and claims aspects of the business for both the Berkshire Hathaway Group and The Hartford insurers. First State will also be the contact for all correspondence, questions and claims reporting.

Safeco, NIF Group

Seattle-based Safeco said its insurance product line for nonprofit social service agencies is available to all independent agents through NIF Group Inc.

“NIF Group has successfully represented Safeco’s nonprofit social service program in the eastern half of the United States since 1998,” said Tom Troy, senior vice president of Safeco Business Insurance. “Now, as our singular national partner, NIF Group is making it easier … for independent agents to sell Safeco’s program across the country.”

Based in Manhasset, N.Y., NIF Group has nine offices throughout the United States, including its newest location in suburban Seattle. NIF Group has underwritten nonprofit social services continuously for more than 25 years.

“When Black/White & Associates, formerly our western U.S. representative, sold to another insurance company, we took advantage of the opportunity to consolidate our social service business with NIF Group,” Troy explained.

Because of Black/White’s upcoming consolidation with a competing carrier, some Safeco policies may receive notices of non-renewal based on specific state regulations. For more information, visit www.safeco.com.

C.V. Starr, Chubb

New York-based C.V. Starr & Co. has created a facility to underwrite project specific liability coverage in the residential construction business.

The facility will provide coverage excess of a minimum retention of $100,000 per occurrence or homeowner’s action on either a wrap-up or non-wrap-up basis.

Headquartered in San Francisco, the new facility will act as a program manager on behalf of the Chubb Group of Insurance Companies for a product designed for states with “notice or opportunity to repair” laws.

Idaho Department of Insurance

The Idaho Department of Insurance has implemented new services for surplus line brokers on its Web site at www.doi.idaho.gov/company/surpluslinesinsurer.aspx.

Brokers now will be able to:

1. View a current up-to-date list of eligible surplus line insurers;

2. Print or download the list as an Excel spreadsheet; and

3. View the insurer’s contact information.

According to the Department of Insurance, brokers bear the responsibility of verifying that an insurer is currently listed prior to placing coverage with such insurer. The Surplus Line Association of Idaho Inc., which is also notified of all changes to the list of eligible surplus line insurers, is a source of this information as well as the Idaho Department of Insurance.

Monarch E&S Insurance Services

Monarch E&S Insurance Services, based in La Cresenta, Calif., has expanded its operations by establishing a dedicated professional lines department from its Simi Valley, Calif., offices.

The new department’s market concentration will be on professional liability, including design professional liability, lawyers professional liability, technology professional liability, medical professional liability and executive liability products including directors and officers liability, employment practices liability and fiduciary liability.

Capital Insurance Group, Insurance Skills Center

Capital Insurance Group (CIG) has partnered with the Insurance Skills Center to provide West coast agencies with accredited courses through its CIG University (CIGU). A homeowners, condo and tenant coverage course will be offered from late April to June in California and Nevada. Additional courses available in 2007 in Calif., Nev., and Ore., include personal auto and personal umbrella, business owner’s policy, commercial multi-peril, commercial auto, umbrella, inland marine and agribusiness, and ethics.

Courses are open to all IBA West Members on a space available basis. Courses are worth eight continuing education credits. Ethics is four CEs, and Flood is worth three CEs. CIG-partner agencies may apply for early bird discount pricing and priority placement of $50 per course per person. IBA West agencies may register at the rate of $129 per course per person or apply for CIG agency appointment. Other agencies will be assessed $149 per course per person.

To view the course location and date offerings, or to register, visit www.insuranceskills center.com/CIGU. Or, contact CIG at www.ciginsurance.com. To register by phone, call 800-375-8704.

Grey-Stone, Chubb

Howard Stone, president of Gray-Stone & Co. based in Thousand Oaks, Calif., announced that the company will be representing a line of commercial products from Chubb Group of Companies.

Gray-Stone began business more than 70 years ago and is licensed to transact in 49 states. In addition to workers’ compensation markets, the company has programs and coverage for California law firms including property; comprehensive general liability; crime; umbrella; and professional liability, among others.

Topics USA Chubb