Nuts & Bolts: American Collectors Insurance offers coverage for precious collectibles. This policy supplements homeowners insurance. Once homeowners insurance limitations are explained to a collector, with regard to full value replacement, this product is itself easy to write as the firm does not require professional appraisals or inventories. The collectible policy is affordable and covers most household collections. The company is admitted and rated “A excellent” by A.M. Best.
Dollars: Minimum premium, $75; deductible $100.
Carrier: American Banker.
States: All states except Alaska and Hawaii.
Contact: Erica Maurer, sales and marketing coordinator, (800) 360-2277 or email, firstname.lastname@example.org.
Employment Practices Liability
Nuts & Bolts: Rockwood Programs has announced changes to its existing Employment Practices Liability Insurance policy. The enhanced coverage form is available in all jurisdictions, with the exception of California, on April 17, 2006. Among the changes implemented: inclusion of legal expense coverage for wage and hour claims, subject to a sub-limit; removal of failure to comply, major stockholder, and dishonest acts exclusions; addition of a “soft hammer” provision with a 50/50 insured/insurer split; expanded definition of “employee” expanded to include independent contractors and leased employees under the direction of the insured; defense cost outside of and equal to the limits of liability, with certain restrictions.
Dollars: Minimum premiums start at $1,250. There is a wide range of liability limit and retention options available. Policyholders are given exclusive access to a broad array of loss control tools available via the Internet. The on-line service provides step-by-step Human Resources procedures, recommended policies, training programs, and employee handbook templates.
Carrier: Avemco Insurance Company (AIC), an affiliate of HCC Holdings, Inc. All companies represented are rated “A” (Superior) or better by A.M. Best.
States: All, except Alaska, California and Washington
Contact: Thomas Caputo, 1-800-588-8808, www.rockwoodinsurance.com
Employment Practices, Smaller Employers
Nuts & Bolts: Rockwood has also developed an EPLI product specifically designed to meet the needs of companies with 15 or fewer employees. This initiative is being marketed under the name of The Rockwood Guardian EPLI Program. The product offers meaningful coverage for as little as $500. Rated “A” by A.M. Best.
Dollars: Liability limit options of $50,000 and $100,000 are available. All polices are issued with a $5,000 retention.
Carrier: Lloyds of London.
Contact: Thomas Caputo, 1-800-588-8808, www.rockwoodinsurance.com.
Fertility Clinics Liability
Nuts & Bolts: Chicago-based Avreco has introduced several new products based on what the company calls the demand for increased in-vitro fertilization, new related products and an increase in the number of fertility clinics and the physician specialists who staff them. Describing the coverage Avreco said the products include products liability; product liability with or without GL; and incidental professional liability.
Dollars: Product liability, $5M/$5M. Physicians professional liability, limits $1M/$3M (some state restrictions may apply). Clinics professional liability with or without GL and professional liability with or without GL, $5M/$5M. Rated “A” by A.M. Best.
Carrier: Contact Avreco for information.
States: All, except for Kansas.
Contact: Charles Becker at 312-294-6311 or email@example.com.