My New Markets

Directors and Officers Liability
Nuts & Bolts: Navigators Pro is offering directors and officers liability and employment practices liability for all industry sectors. Deductible is minimum, $10,000. Minimum premium is $5,000. Maximum premium is $500,000.

Dollars: $1 million to $10 million.
States: All.
Carrier: Navigators Insurance Co. rated “A” by A.M. Best. Admitted.
Contact: Christopher Duca at 212-613-4305 or e-mail cduca@navg.com.

Legal Firms Excess Layer
Nuts & Bolts: Swiss Re’s Commercial Insurance has excess layer coverage for law firms, complementing its first layer product, which has been available for more than 30 years. The product is designed to follow the form of the underlying policy, features a range of attachment points and is available in all 50 states.

Dollars: Up to $10 million.
Carrier: First Specialty Insurance Corp. rated “A+” by A.M. Best. Non-admitted.
States: All.
Contact: Jill Zubak at 312-821-4147 or e-mail Jill_Zubak@swissre.com.

Community Banks, Privacy Liability and Expense
Nuts & Bolts: Progressive Casualty Insurance Co. has added a new coverage to its American Bankers Association-sponsored Financial Institution Program. The privacy liability and mitigation expense, is designed to address bankers’ concerns regarding privacy and identity theft issues. The program covers banks’ liability arising from unauthorized access to confidential customer information, and provides reimbursement for banks’ post-security breach expenses, including customer notification, account reissuance, credit monitoring services to detect potential fraud, and public relations counsel, if needed.

Progressive’s Financial Institution Program is endorsed by 27 state bankers associations and offers community banks directors and officers, internet banking, fiduciary and employment practices liability coverages, as well as financial institution bond and other related insurance products.

Dollars: Up to $5 million.
Carrier: Progressive “A+” rated by A.M. Best. Admitted.
States: All, except Alaska, California, Kansas, Louisiana, Massachusetts, North Dakota and Virginia.
Contact: Judi Kovach at 800-274-5222 or e-mail jkovach@progressive.com.

Spill Cover
Nuts & Bolts: IPA Risk Management has a product spill cover that provides coverage to pay for the cleanup costs when a vehicle spills its load onto the roadway. Minimum premium is $1,000. Deductible is $2,000.

Dollars: Starts at $50,000, up to $1 million, subject to approval.
Carrier: Lloyd’s of London, rated “A+” by A.M. Best. Non-admitted.
States: All.
Contact: Greg Heitmann at 201-797-1215 or e-mail g.heitmann@itariskmanagment.com.

Commercial Mid-Market Package
Nuts & Bolts: Arrowhead Wholesale Insurance Services has a market for mid-size to larger multi-family and commercial real estate accounts. There is a minimum $10 million total insured value of buildings per account (all locations) with capacity up to $400 million per location. Consideration will be given to accounts with a lower TIV in the small business department. Product highlights include: blanket coverage for large schedules; building ordinance coverage; business income coverage up to 365 days; extended replacement cost up to 150 percent of the agreed-upon value; no sub-limit for water damage from backup of sewers or drains; $25,000 tenant move back coverage; $50,000 realty tax – increased assessment; $100,000 emergency vacating expense; $100,000 communicable disease extra expense; up to $100,000 crisis management coverage; crime protection from theft, forgery and alteration; $100,000 electronic data processing protection; real estate management errors and omissions coverage; publicly held corporate directors and officers coverage; and triple net lease property protection if the tenant does not provide the coverage required by the lease. Risk appetite is buildings less than 45 years old located in protection class 1-7. Contracting exposure and development operations and services will be given consideration.

Dollars: Capacity up to $400 million.
Carrier: Rated “A” XV by A.M. Best. Admitted.
States: California.
Contact: Dave Chipp at 866-840-5329, ext. 4113, e-mail Dchipp@arrowheadgrp.com