Jewelers Lower Cost Cover
Nuts & Bolts: Neenah, Wis.-based Jewelers Mutual Insurance Co. launched a lower-cost insurance policy and an assortment of coverage options specifically tailored for manufacturers, retailers, wholesalers and specialty jewelry businesses. An alternative to the Jewelers Block, the new Jewelers standard policy covers: inventory of jewelry stock for sale, customers' property on a primary basis (from those not in the jewelry industry), and property of others in the jewelry business. The policy is aimed at smaller jewelers in safer areas. The four new coverage options include one each for manufacturers, retailers, wholesalers, and specialty businesses such as appraisers, custom designers, and repairers. The new options expand the businessowners policy and the company's package policies.
Dollars: Premiums vary based on several factors such as limit of insurance and location. This policy is for jewelry businesses that have property limits up to $250,000.
Carrier: Jewelers Mutual rated "A+" by A.M. Best, admitted.
States Available: All.
Contact: (800) 558-6411, marketing@jminsure.com or www.jewelersmutual.com.
Community Bank Package
Nuts & Bolts: A new package from the Chubb Group of Insurance Companies can help community banks minimize coverage gaps through an integrated mix of six coverages. Chubb's ForeFront Portfolio for Community Banks consists of liability coverage for directors and officers, bankers professional, employment practices, fiduciary, outside directorship and lenders.
Dollars: Chubb will market this package to community banks with assets of $1 billion or less that operate in a small geographical area. In addition to being able to select which coverages to purchase, customers can choose separate limits for each coverage, opt for an aggregate limit for all the coverages, or combine coverages under aggregates.
Carrier: Executive Risk Indemnity, Federal Insurance Co.
States Available: All states except Alaska, Louisiana, Vermont, Virginia and Wyoming.
Contact: Local Chubb branch office or Jeffrey J. Brown, (908) 903-2664 or jjbrown@chubb.com.
Higher Ed Risk Solutions
Nuts & Bolts: As part of AIG's Higher Education Risk Solutions, the Educators Elite line offers solutions to cover the distinct liabilities of public and private colleges, universities, junior colleges and trade schools. Coverages include general property, property terrorism, primary general and management liability, excess casualty, employment practices liability, accident and health, legal liability, and international insurance and risk management.
Dollars: Healthcare: Premium $50,000, deductible $10,000, limits up to $25 million. Property: Premium $25,000, deductible $25,000, limits up to $100 million. Casualty: Premium $50,000, deductible $25,000, limits up to $100 million. D&O/ELL/EPL: premium $25,000, deductible $25,000, limits up to $25 million. International Package: Premium $2,500, limits $1 million/$2 million.
Carrier: Rated "A++" (superior), Class XV, by A.M. Best and rated "AAA" by S & P.
States Available: Available in all states.
Contact: Tim McAuliffe, (212) 770-2194 or highered@aig.com.
