New Markets

Computer and Technology

Nuts & Bolts: Encino, Calif.-based NAS Insurance Services is introducing a new computer/technology liability insurance policy. The list of eligible classes is extensive-from data management service to software programming and systems design to security consultants. Among the computer/technology insurance features are coverages for unauthorized access and virus liability and media perils. Copyright infringement coverage for code and content is also available.

Dollars: Limits go up to $5 million and the minimum premium is $2,500 as is the minimum deductible.

Carrier: Lloyds rated “A,” nonadmitted.

States Available: All.

Contact: Robert Speak, (818) 808-4476 or rspeak@nasinsurance.com.

Apartments

Nuts & Bolts: Abram Interstate Insurance Services Inc. is offering a new market for apartments. This new product is a comprehensive apartment building package policy especially designed to meet the needs of owners and managers involved in the commercial apartment building market. The program can be written on either a multi-peril commercial package policy, including property and general liability, or on a monoline property basis. The package policy also offers comprehensive general liability, crime, hired and non-owned auto and mechanical breakdown. Coverage is special form, agreed amount with replacement cost valuation. There is no age restriction, and it will allow risks up to 20 stories, including all constructions types for protection classes 1 – 9.

Dollars: Limits of coverage up to $10 million per location, or building, and higher based on the risk. The minimum premium is $2,500.

Carrier: It is rated “A- (excellent) XII” by A.M. Best, nonadmitted.

State Available: California.

Contact: Stephen Donahue, (916) 780-7000, stephend@abraminterstate.com or Kathy Henderson, (916) 780-7000, kathleenh@abraminterstate.com.

Renters Legal Liability

Nuts & Bolts: Lexington Insurance is offering a new market for renters sold directly through insurance agents. The benefits to be paid, subject to the policy’s express provisions and to the extent of the $100,000 policy limits, are in the following priorities. In the event of a covered loss the $100,000 policy limits, per occasion, shall benefit and/or be paid as follows: First, to the owner to the extent of the owner’s loss; Second, to the adjacent (non-negligent) resident(s) to the extent of such residents’ personal property loss; plus $1,000 for additional living expenses; Third, to the negligent (damage-causing) resident not to exceed $5,000, to the extent of such resident’s personal property loss; plus $1,000 for additional living expenses.

Renters legal liability insurance generally covers damages caused by renters’ negligence in five categories: Fire, smoke, explosion, accidental water discharge, sewer backup.

Dollars: Yearly deposit is $1,000, deductible is $1,000 and the policy limit is $100,000.

Carrier: Policies are underwritten by Lexington Insurance, a member of AIG, rated “A+” XV.

States Available: Available in all 50 states.

Contact: (800) 770-9660 or www.rllinsure.com.