Internet Basic Liability
Nuts & Bolts:
St. Paul Travelers launched a basic Internet liability policy aimed at small to mid-size technology companies. Internet basic liability protection is designed for technology businesses or firms with between $5 million and $100 million in revenues that conduct business over the Internet. Two particular risks are covered, failing to protect private customer or client information from hackers or accidental disclosure online and failing to prevent the spread of computer viruses. Larger companies may also be eligible for Internet Basic, which fits together with technology underwriting's CGL policy and insures against damages caused by two types of wrongful acts. Businesses that choose to purchase Internet Basic are not required to undergo a security audit. In addition, in the event of a claim or lawsuit, Internet Basic provides legal defense subject to policy limits.
Dollars:
The minimum deductible is $5,000. The minimum premium, which varies by state, is in the $1,000 range. Most accounts take $1 million/$1 million to $5 million/$5 million limits, but higher limits are available.
Carrier:
St. Paul Fire and Marine Ins. Co. rated "A" by A.M. Best.
States Available:
All except Louisiana.
Contact:
Aaron Latto, (651) 310-8566, www.stpaultravelers.com.
Motorcycle, Garage, Open Lot
Nuts & Bolts:
MBA Holdings' subsidiary, National Motorcycle Dealers Association has entered into an agreement with Universal Underwriters Group to underwrite insurance products to franchised motorcycle dealers. Universal Underwriters Group product offerings include: auto inventory physical damage, property, garage liability, umbrella, crime and other specified coverages. Universal Underwriters also offers finance and insurance products, such as credit life, disability coverage, reinsurance and retrospective programs. Additional training and consulting services include a streamlined selling system, F&I seminars and income development for dealerships.
Dollars:
Premiums, deductibles and limits are different depending on the loss history, etc. and vary per account.
Carrier:
Universal Underwriters Group, rated "A," admitted.
States Available:
All except Louisiana.
Contact:
(800) 840-8842 ext. 1285 or www.universalunderwriters.com.
Big Boat Insurance for Racers and Cruisers
Nuts & Bolts:
U.S. Sailing Assoc., the national governing body for the sport, and Gowrie Barden & Brett, have teamed up to offer a new big boat insurance program for U.S. Sailing members. The program offers comprehensive, customized coverage for sailboats larger than 30 feet on and off the racecourse. The big boat insurance program is available for most types of boats, including new and older boats, PHRF and Grand Prix racers, as well as cruisers. Some coverage highlights are: Captain and crew, paid and unpaid; Containers and equipment onshore; Overland transportation; Worldwide navigation optional. A+ rated paper.
Dollars:
Premiums and deductibles vary by risk based on sailboat type, loss history and use. Policy limits go up to $5 million for hull and P&I.
Carrier:
Several domestic carriers rated "A+" or better, admitted.
States Available:
All states.
Contact:
Rod Clingman, (800) 262-8911 ext.177.
Misc. E&S
Nuts & Bolts:
CRC Insurance Services, based in Atlanta, Georgia, is offering a new E&S market for businesses such as cosmetics manufacturing, playground equipment distributor, skateboard ramp manufacturing, aftermarket auto parts, candle importing, conveyor belt manufacturing, go-kart distributing, tire distributing, seafood distributing, sporting goods manufacturing, vitamin distributing, scaffolding/aerial reach/crane, bug repellant wristbands, trailer hitch manufacturing, contact lens manufacturing, toy manufacturing, helmet manufacturing, non-invasive medical products, shutter manufacturing, safety goggles manufacturing, trailer manufacturing, motorcycle distributing, and prefab homes manufacturing. ISO endorsements.
Dollars:
Policy limits are 1/2/2/1, deductible is $2,500 and the minimum premium is $7,500.
Carrier:
Rated "A," nonadmitted
States Available:
All.
Contact:
Jeffrey Dunn, (888) 633-6284 or jdunn@crcins.com.
E&O Liability Product
Nuts & Bolts:
Kansas City-based underwriting manager and claims administrator Euclid Managers LLC launched ProtoType, an insurance product for manufacturers. The product features errors and omissions, Web site protection, security coverage, copyright and trademark infringement, defamation, privacy and other personal injury protections. Coverage is targeted to a wide range of small- and mid-sized manufacturing risks, such as furniture, lumber products, plastics, basic materials for construction, hardware, electronics and many consumer products. ProtoType is designed to respond to claims for financial loss due to a mistake in the performance of covered services. The definition of services can include many activities such as design, development, manufacturing, marketing, installation and training. In addition, coverage is included for activities performed on the insured's Web site. All underwriting and claims administration for ProtoType will be handled by Euclid Managers' Kansas City office.
Dollars:
Minimum premiums range from $1,500 to $2,500. Up to $5 million in limits are available and minimum deductibles are $2,500.
Carrier:
Hudson Insurance Group rated "A" (excellent) XIV by A.M. Best, nonadmitted.
States Available:
All except New Hampshire, Maine, Delaware and Connecticut.
Contact:
Marcia Jenson, (816) 778-0713.
Apartment Building Program
Nuts & Bolts:
New Age Brokerage LLC, based in Morristown, N.J., made available a comprehensive apartment building insurance product, now available to insurance agents and brokers in New York, New Jersey, Pennsylvania, Maryland, West Virginia, Virginia, North Carolina, Tennessee, South Carolina and Georgia. New Age Brokerage offers comprehensive property/casualty programs specifically designed to meet the needs of owners and managers involved in the commercial apartment building market. The program can be written on either a multi-peril commercial package policy, including property and general liability coverages, or on a monoline property basis.
Dollars:
The program offers property limits up to $5 million and general liability limits of $1 million per occurrence/$2 million general aggregate. Minimum premium for the package is $2,500 with deductibles ranging from $2,500 to $25,000.
Carrier:
Aspen Specialty Ins. Co., rated "A-" (excellent) VIII by A.M Best.
States Available:
Georgia, Maryland, New York, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia.
Contact:
LauraAcquadroorRichardTrezza,(800)834-2109orwww.primary-group.com.
