New Markets

Hospitality Program

Nuts & Bolts: Venture Insurance Programs added “Venture Hospitality,” to its hospitality program to complement its workers’ compensation products. The package is ideally suited for full-service restaurants, hotels and resort properties, and is available in all states. Hanover’s underwriting requirements include specific guidelines for coastal properties, and ineligible risks that include: Fast food and 24-hour restaurant operations; bars and nightclubs; restaurants with cooking at customer tables; independently-owned motels; and select ancillary operations including skiing, diving boards, horseback riding and day care facilities. Hospitality risks will have access to Venture’s risk management services including loss control and claims management specifically designed for the hospitality industry. Currently, it also includes a workers’ comp product designed exclusively for the hospitality industry. Workers’ comp coverage is provided through Alea North America Ins. Co. and the Chubb Group of Ins. Cos.

Dollars: Property limits go up to $20 million per location, general liability available on a mono-line basis, liquor liability, commercial auto and umbrella coverage limits go to $25 million. Minimum premium is $100,000 for any one or all-lines, with deductible options available.

Carrier: The Hanover Ins. Co., rated “A-” XII by A.M. Best.

Contact: Annamarie Keen, (800) 282-6247 ext. 278, or www.ventureprograms.com.

Employment Practices Liability Program

Nuts & Bolts: Arrowhead General Insurance Agency Inc.’s professional liability division (www.ArrowheadPro.com) launched an employment practices liability insurance program for small- and mid-market businesses in 47 states. Highlights of the program include coverage for full prior acts; specific coverage for employment claims arising out of company Internet and e-mail; and a broad wrongful employment act definition. Third-party discrimination coverage, including sexual harassment, is also available. The non-admitted (currently admitted only in New York) EPLI program offers an extension of coverage for the lawful spouse and has no exclusions for intentional acts, class action or downsizing. As part of the EPLI program, producers have free access to a third-party, flexible, online employment practices training tool.

Dollars: Limits from $250,000 up to $1 million, retentions from $2,500 up to $50,000 and minimum premiums starting at $1,750.

Carrier: Rated “A” by A.M. Best. Admitted in New York only.

States Available: Available in 47 states.

Contact: Christina Eagle, (800) 333-5553 ext. 6340 or ceagle@arrowheadgrp.com; Mark Boyer, (310) 455-7812 or mark@boyersyn.com.

Commercial Transportation

Nuts & Bolts: Yates’ commercial transportation department added a new, admitted carrier to its line up, which is ready for new business in California. The target risks include: contractor vehicles, local and intermediate trucking (package policies available), petroleum haulers (package policies available), public livery (including wheelchair lifts), and retail and wholesale delivery vans. In order to quote, agents are requested to send a completed application with Acords 125, 127, MVRs and 137 if applicable. Also needed: three years of current valued loss runs.

Dollars: In-house limits of $200,000 per unit for physical damage and $100,000 per conveyance for cargo. Will write up to $1.5 million on CSL, but if more is needed, agents are invited to submit up to $5 million.

Carrier: Rated “A.”

State Available: California.

Contact: Southern California – Dean McNichol, (800) 660-1125 ext. 244. Northern California – Shannon Nauta, (800) 464-7042 ext. 508 or www.yates-assoc.com.

Community Bankers’ D&O

Nuts & Bolts: Mayfield Village, Ohio-based Progressive Casualty Ins. Co. released a new directors’ and officers’/company liability policy for financial institutions. The new policy allows bankers to protect the directors, officers and bank against exposures arising from the many services they now provide, under either a broad-form contract or on an individual named peril basis. Since the Gramm-Leach-Bliley Act of 1999, community banks have ventured into activities well beyond the traditional banking arena. The policy continues to provide a special nonerosion feature that ensures that limits are available to protect directors’ and officers’ personal liability, even if claims are paid for suits against the bank itself. The policy has been approved in most states, and is available through independent agents.

Dollars: $15 million limit. Premiums and deductibles are based on size of bank.

Carrier: Progressive Casualty Ins. Co. rated “A+” (superior) from A.M. Best, admitted.

States Available: All.

Contact: Craig Collins, (715) 381-4876 or craig_m_collins@progressive.com.

High Limit Excess Policy

Nuts & Bolts: Fireman’s Fund Ins. Co. began the national roll-out of a very high-limit excess policy tailored to the unique needs of affluent and high-net-worth clients with special liability coverages for nonprofit directors and officers, as well as for those involved in managing family trusts. The policy includes up to $25,000 coverage for professional public relations counsel to manage reputational damage stemming from a lawsuit. Prestige Excess offers higher limits on private counsel and crisis management coverages, liability coverage for individual nonprofit directors and officers (which includes defense against allegations of mismanagement of funds), and liability coverage for alleged mismanagement of a family trust. It aligns with the Fireman’s Fund Prestige Home policy on a common set of conditions and definitions allowing greater customer flexibility.

Dollars: $100 million limit for personal catastrophe coverage. Asset protection limits on the employment practices liability endorsement are $5 million over and above the limits of the insured’s main excess policy. The average premium for a $1million policy is $200 and it is not subject to a deductible.

Carrier: Fireman’s Fund Group rated “A” by A.M. Best and S&P, admitted.

States Available: Arizona, Idaho, Illinois, Kansas, Pennsylvania, Utah, Wisconsin, and Wyoming, with 32 new states expected to come on-line by year-end.

Contact: Michelle Kenney, (415) 899-4064.

To submit information for this department,
e-mail bwells@insurancejournal.com.

Topics California AM Best