School Bus Operators Package
Nuts & Bolts: The AIG Companies introduced BusPlus, a new umbrella liability insurance package that offers excess auto liability insurance coverage, sexual misconduct liability coverage and terrorism protection under one policy for schools, municipalities and private bus companies responsible for the transportation of children. The BusPlus umbrella liability insurance policy includes: Excess auto liability coverage providing excess bodily injury and property damage liability coverage for losses exceeding the primary policy limits of the named insured; and sexual misconduct liability coverage expressly provided for the insured entity, as well as the bus driver (an accused bus driver is afforded protection until he or she confesses or is proven guilty of abuse allegations). Also, automatic inclusion of terrorism insurance for claims arising from acts of terrorism that impact school buses and their passengers.
Dollars: BusPlus umbrella liability insurance is available with limits up to $25 million.
Carrier: Lexington Insurance Co., rated "A+ XV," non-admitted.
States Available: All states.
Contact: Ben Beauvais, (617) 330- 8412, or busplus@aig.com
Venue Liability Protector
Nuts & Bolts: The AIG Companies launched Venue Liability Protector, a commercial coverage designed to address the casualty risks of public venues and accident risks of patrons at performance and hospitality events. Venue Liability Protector is a broad, general liability coverage that includes accidental death and dismemberment (AD&D) insurance specifically to cover patrons of venues of all types—from nightclubs to sports stadiums, museums to dinner theaters. The AD&D coverage responds in the event that a patron suffers an accidental death or injury at the insured venue, providing immediate financial benefits to victims and their families. Risk management services are also offered to help commercial insureds reduce liability exposures and create a safer environment for the public.
Dollars: Venue Liability Protector offers general casualty limits of liability up to $1 million in primary coverage and excess limits up to $25 million. Up to $10 million in aggregate AD&D insurance is also provided.
Carrier: Lexington Insurance Co. rated "AAA" by S&P, non-admitted.
States Available: All states.
Contact: Deborah Coleman, (214) 932-2163 or venueliability@aig.com
New Builder's Risk
Nuts & Bolts: R.E.Chaix & Associates announced a new market for builders' risk extending in-house binding for residential and small commercial buildings of $3 million or less. Renovations will be considered. Optional coverage for earth movement and flood is available. New construction risks may want to inquire about ordinance or law construction as additional coverage.
Dollars: The deductible starts at $250 and increases depending on risk. Broad coverage for larger risks will be considered up to $25 million.
Carrier: Rated "A," admitted in California.
States Available: California.
Contact: Southern California, Tim Chaix, (949) 722-4177 or Northern California, Charlie Alegria, (707) 265-9788 or www.rechaixinsurance.com
