Apartments
Nuts & Bolts: Lionheart Insurance has new markets for all classes of exposure for apartments. Preferred, standard and non-standard. Must be average or better in maintenance.
Dollars: Liability limits of $1 and $2 million, property up to $10 million per location based on spread of risk. A deductible of $2,500 property is available and there is a minimum premium of $2,500.
Carrier: Two admitted carriers; four non-admitted carriers.
States Available: California.
Contact: Joe Weckerle, (818) 591-3010 ext. 105
Mono-line Property
Nuts & Bolts: Safety Net Insurance Marketing Corporation is offering a new mono-line property facility that is underwritten by an "A" rated California authorized non-admitted market. Coverage is available for over 400 classes of business including but not limited to apartments, commercial office buildings, commercial and industrial buildings, shopping centers, condominium associations, hotels and motels. Primary and excess liability coverage is also available. Applications and Quick Quote Sheets are available on Safety Net's Web site at www.safetynet-USA.com.
Dollars: Up to $10,000,000 of coverage is available and a minimum premium of $1,000.
Carrier: Rated "A," non-admitted.
States Available: California.
Contact: Underwriting Department, (800) 215-7784 ext. 12; quotes@safetynetins.com
Accountants' Professional Liability
Nuts & Bolts: Philadelphia Insurance Companies is now offering accountants a professional liability policy that addresses the unique exposures that confront accountants' everyday, as well as some first party benefits not available anywhere else in the marketplace. This policy provides coverage to firms with up to 75 professionals. Policy limits are available up to $5 million per claim. Also covered are services performed by any insured as a notary public, trustee, receiver, executor, or in connection with the American Institute of Certified Public Accountants or any state society of public accountants.
Dollars: Policy limits are available up to $5 million per claim. Retentions vary. Minimum retention is $1,000. Minimum premium is $600.
Carrier: Philadelphia Insurance Cos. rated "A+" (superior) by A.M. Best, admitted.
States Available: All except Louisiana.
Contact: (800) 873-4552 or phlysales@phlyinf.com
Legal Liability for Motor Truck Cargo
Nuts & Bolts: The Hartford Financial Services Group Inc. broadened and simplified its carrier-for-hire cargo coverage, which addresses a trucker's legal liability when carrying cargo under contract. Key enhancements to the cargo coverage include cargo recovery extra expense, substitution of vehicles, mechanical breakdown, increased limits for many coverages and the elimination of a number of exclusions. The cargo recovery extra expense is automatically included in every policy and provides up to $25,000 of coverage to resolve the issue of paying for the release of cargo after loss or damage occurs, thereby allowing final delivery to be made without delay. Coverages with increased limits include earned freight, which covers up to $5,000 in uncollectible charges for freight if a loss occurs during transit, reusable packing containers, which provides up to $5,000 per occurrence for loss to packaging material and debris removal expenses. Exclusions eliminated include wetness, poor or insufficient packing, unexplained disappearance and shortage found upon taking inventory, among others.
Dollars: A broad range of per-conveyance limits from $100,000 to more than $1.5 million. Higher per-conveyance limits will be considered based on risk characteristics. Minimum deductibles of $1,000. Premiums typically range between $2,500 and $500,000 with some regional variations.
Carrier: The Hartford, rated "A+."
States Available: All states.
Contact: Lauren Cutro Berry, (860) 547-3497 or Lauren.berry@thehartford.com
Convenience Stores
Nuts & Bolts: Cascade/Amstar is offering a new market for convenience stores including gas and propane sales. Package coverage is available, maximum fire legal limit: $100,000; gas sales must be less than 50 percent of gross annual sales and propane sales must be less than 10 percent. Rate for gas is per pump and propane is per tank.
Dollars: Policy limits range from $100,000 to $2 million aggregate. Deductible of $1,000 per claim BI/PD. Minimum premiums: monoline GL $100,000 to $500,000: $500 minimum, $1 million: $750 minimum. Liquor liability can be added up to $1 million in coverage.
Carrier: Rate "A-," non-admitted.
States Available: California.
Contact: Angi VanZanten or Debi Judd, (909) 898-8960 or (805) 523-1233 ext. 3210
Professional Liability
Nuts & Bolts: Target Insurance Services now offers professional liability coverage. Target also offers stand-alone package coverage and first or third party crime, for staffing and recruitment firms.
Dollars: Separate E&O and EPLI policy limits up to $5 million, deductibles vary by firm size and the minimum premium for a $1 million limit is $1500.
Carrier: National Casualty, rated "A+" by A.M. Best, is an admitted affiliate of Scottsdale Insurance and is owned by Nationwide Insurance. All three companies are rated "A+" by Best.
States Available: All states, except Alabama, Hawaii, Louisiana, Mississippi, West Virginia and Wyoming.
Contact: Valerie McDonald, (888) 888-1613, ext. 244 or www.target-capital.com
Amateur Sports Facilities
Nuts & Bolts: Philadelphia Insurance Companies announced the release of their newest product—Amateur Sports Facilities Program. This product joins a series of products designed for the sports and recreation market including fitness centers, martial arts schools, and bowling centers. It is designed specifically for Amateur Sports Facilities. The policy provides coverage for facilities where amateur and youth sport leagues or teams lease space for practice and games. Arenas are indoor facilities that will support basketball, volleyball, indoor soccer, indoor lacrosse and racquet sports. Stadiums include any outdoor facility, including practice fields, where football, baseball, soccer, and lacrosse are played.
Dollars: General Liability limits are available up to $2 million; umbrella liability limits of up to $10 million are available. Large in-house property capacity exists that allows the company to write virtually any amateur sports facility that meets underwriting standards. Interest-free installments are available for accounts that generate at least $5,000 in premium. No minimum premium. $1,000 is minimum retention.
Carrier: Philadelphia Insurance Cos. rated "A+" (superior) by A.M. Best.
States Available: All, except Louisiana.
Contact: (800) 873-4552 or phlysales@phlyinf.com
WorldRisk TravelPak
Nuts & Bolts: AIG Small Business, a unit of the property and casualty insurance subsidiaries of American International Group Inc. (AIG), introduced WorldRisk TravelPak, a comprehensive package of international coverages designed for U.S.-based commercial enterprises with employees traveling on business abroad. This package provides a range of coverages for overseas travel hazards, including commercial general liability; non-owned and hired auto liability; employers' responsibility; excess repatriation expenses; travel accident and sickness; foreign business travel property; and kidnap, ransom and extortion. Geared towards manufacturing concerns, financial institutions, retailers/wholesalers and professional services companies, the package covers ten or less short-term overseas trips per year and up to ten employees per trip.
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
