Florida Property Program
Nuts & Bolts:
Hull & Co. has a new Florida property program for commercial risks including and excluding wind. The program is designed for risks up to $5 million in value for all classes of business, occupancies and construction.
Dollars:
Limits up to $5 million. Deductibles and premiums vary by risk.
Carrier:
Rated "A XIV" by A.M. Best.
State Available:
Florida.
Contact:
Fort Lauderdale, (800) 678-4855, (954) 527-4855. Tampa Bay, (800) 727-4855. Jacksonville, (888) 809-4855 or info@hullco.com.
Surplus Lines Liability Products
Nuts & Bolts:
Noodle Specialty Brokers (NSB) has made available surplus lines liability products from a nonadmitted carrier rated "A+ XV." Wholesalers offer the products in 17 states and the District of Columbia, and are geared toward medium to large small businesses. Coverage for a number of higher-risk SIC codes will be provided including commercial contractors, artisan contractors, specialty tradesmen, custom homebuilders, residential repair and remodeling contractors, manufacturers, warehouses and vacant buildings.
Carrier:
Rated "A+ XV," nonadmitted.
States Available:
Arizona, Colorado, Connecticut, District of Columbia, Georgia, Illinois, Iowa, Kansas, Michigan, Minnesota, Missouri, Nevada, Ohio, Pennsylvania, South Dakota, Tennessee, Virginia and Wisconsin.
Contact:
Angelo Gioia, (312) 423-8623.
Recreational Watercraft
Nuts & Bolts:
BVSA Marine Insurance is now offering coverage for recreational watercrafts up to 32 feet.
Dollars:
Liability limits of up to $500,000 are available. Deductibles range from 1 to 3 percent with no minimum premiums.
Carrier:
American Reliable rated "A," admitted.
States Available:
Arizona, California, Connecticut, Delaware, Florida, Georgia, Indiana, Louisiana, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia and Washington.
Contact:
Craig Schneider, (800) 224-1707 or www.bvsainsurance.com.
Expanded D&O
Nuts & Bolts:
The professional lines insurance operation of XL Insurance added fiduciary liability coverage to its directors and officers policy. The expanded policy, known as 'a-plus D&O,' replaces XL's IDOL policy. It provides excess difference-in-conditions coverage above an existing D&O policy.
Dollars:
Available limits up to $50 million in capacity. Premiums determined per account.
Carrier:
XL Insurance rated "AA-" by S&P, nonadmitted.
States Available:
All states.
Contact:
Sherron Williams, www.xlcapital.com.
Small Business Enhancements
Nuts & Bolts:
The Chubb Group of Insurance Cos. is offering a package of eight key coverages tailored small businesses with enhancements to Chubb's "ForeFront Portfolio." The changes include a lower minimum employment practices deductible for eligible private companies; an employment practices (EPLI) deductible available as low as $2,000 for some customers; no directors and officers liability deductibles for eligible customers who purchase an EPLI; the option to purchase an additional $1 million in defense cost for each liability coverage purchased; and a policy application streamlined to make it easier for smaller private companies to apply. Its eight coverage sections are: D&O, employment practices, crime, fiduciary, miscellaneous professional, Internet, kidnap/ransom and extortion and workplace violence expense.
Dollars:
Limits are up to $5 million. No D&O deductible when the EPL is purchased through Chubb. An EPL deductible is now available as low as $2,000 for some ForeFront or PowerSource insureds.
Carrier:
Federal Ins. Co. and Executive Risk Indemnity Inc, both rated "A++" by A.M. Best, admitted.
States Available:
All states except California, New York and West Virginia, where not all enhancements may be available.
Contact:
Lisa McGee, (908) 903-3301 or lmcgee@chubb.com.
Auto Physical Damage
Nuts & Bolts:
Victor O. Schinnerer and Co. has a new line of auto physical damage insurance vehicle coverage for trucks, buses, emergency vehicles, (including ambulances), fire trucks, police cars, and mobile equipment. Single-unit and pooled entities will be considered. Coverages are available for both large and small municipalities.
Dollars:
The deductibles, premiums and limits are all variable with customization of the coverage to the entity.
Carrier:
Admitted.
States Available:
All.
Contact:
Kim Wells, (415) 344-8925 or kim.wells@schinnerer.com.
Crime Insurance
Nuts & Bolts:
Victor O. Schinnerer and Co. has a new line of crime insurance for public entities. The policy offers protection against common fidelity threats, losses due to employee dishonesty, credit card forgery, computer fraud and theft, disappearance and property destruction--all on a single policy form. Coverage for large and small municipalities meets client needs and is offered on an admitted basis.
Dollars:
The deductibles, premiums and limits are all variable with customization of the coverage to the entity.
Carrier:
Admitted.
States Available:
All.
Contact:
Kim Wells, (415) 344-8925 or kim.wells@schinnerer.com.
Terrorism Insurance
Nuts & Bolts:
The AIG Companies launched LexHomeland Protector, a comprehensive terrorism insurance portfolio to help protect businesses against terrorism risks, including losses from biological and chemical attacks. The portfolio introduces LexBioChem Shield, a new biochemical terrorism endorsement for customers purchasing property terrorism coverage from AIG member companies, either on a property terrorism standalone basis or within a property policy. The new endorsement covers clean-up and business interruption expenses arising from a biological or chemical attack committed domestically by U.S. or non-U.S. citizens. A "prevention of re-occupancy" provision covers the full amount of an insured property's value, subject to the policy sublimit, when civil authorities do not allow the insured to re-occupy the property post-remediation.
Dollars:
Limits up to $10 million are available.
Carrier:
Lexington, rated "A++" by A.M. Best.
States Available:
All.
Contact:
Charles Benda, (212) 770-3745 or homelandprotector@aig.com.
