2006: Soft market offers up many new insurance products

December 25, 2006

E&O, Professional/Management Liability
New P/C Insurance Agents’ E&O
Rockwood Programs partnered with certain underwriters at Lloyd’s of London to offer professional liability coverage specifically for property/casualty agents licensed less than three years. The newly licensed agents program provides a liability limit of $1 million/$1 million. All policies are issued with a $5,000 deductible. Premiums start at $3,100. Rates are designed to be commensurate with experience. Base premiums actually decrease with each renewal. Once an agent has three years of experience, they are eligible for Rockwood’s standard program.
Contact: www.rockwoodinsurance.com.

P/C Insurance Agents’ E&O
London American Professional Liability LLC introduced a program for independent property/casualty insurance agents’ errors and omissions. The program will be offered on a nationwide basis and is underwritten by LAPL along with an “A XV” A.M. Best rated insurance carrier. This professional liability program is designed for agencies with gross written premiums between $5 million and $250 million. Coverage will be offered on both a primary and excess basis. Eligible agencies include retailers, wholesalers, specialists.
Contact: www.londonamericannj.com.

P/C Insurance Agents’ E&O
The National Association of Professional Insurance Agents has a market for insurance agents’ errors and omissions insurance through Lloyd’s, London utilizing Lighthouse Underwriters LLC (a member company of U.S. Risk Insurance Group Inc.) as the preferred E&S broker for this coverage. In addition to placement through PIA National, applications will also be accepted through many PIA affiliates as well. Coverage limits range from $1 million/$1 million to $5 million/$5 million and applications will be accepted for virtually any size and type of agency with the exception of MGAs and wholesalers.
Contact: www.pianet.com.

Architects’ and Engineers’ E&O
NAS Insurance Services Inc. offers a market for architects and engineers errors and omissions insurance through qualifying wholesale brokers.

Target classes include, but are not limited to, architects/building design, civil engineers, construction staking, electrical engineers, HVAC, interior designers (industrial), land surveyors, landscape architects, mechanical engineers, and process engineers. Limit options up to $5 million are available. The minimum premium and minimum deductible are $5,000. This coverage is available in all states except Alaska.
Contact: 818-382-2030.

Technology E&O
Hiscox USA, part of the Hiscox Group is now licensed to provide technology errors and omissions insurance to U.S. businesses directly from its two New York locations. Neil Bolton, lead Technology, Media & Telecom underwriter at Hiscox plc in London said the same coverage that is made available to large scale technology clients will now be offered to middle-market IT companies in the U.S. This insurance will be written on a non-admitted basis through Hiscox USA’s two New York locations in Manhattan and Armonk and is currently available to brokers throughout the U.S.
Contact: www.hiscoxusa.com.

Travel Agents’ E&O
Liberty International Underwriters and Travel Professionals Insurance Network partnered to offer a travel professionals errors and omissions insurance product available in 32 states and the District of Columbia. The home-based travel agents’ policy has minimum premiums starting at $350 for $1 million in coverage.
Contact: www.travelproins.com.

Travel Agents’ E&O
Specialty Global Insurance offers a program for travel agents and tour operators with gross written receipts of $5 million or more.

Specialty Global declined to disclose the carrier’s name but advised it has signed an agreement with a leading A (XV) rated carrier partner for the program. The program will be available in all 50 states on an admitted basis. Coverage may be available on an excess and surplus lines basis for accounts that are unable to purchase insurance in the admitted market.
Contact: www.specialtyglobal.com.

D&O, E&O and Employment Practices Liability
Venture Insurance Programs, of West Chester, Pa., launched Venture Professional, a professional and management liability solution featuring directors and officers, errors and omissions and employment practices liability insurance coverage. Venture Professional utilizes multiple admitted and non-admitted insurers as well as Lloyd’s of London syndicates. Available markets will depend on the specified profession and line of business.
Contact: www.ventureprograms.com.

Miscellaneous E&O
Specialty Global Insurance launched a nationwide miscellaneous errors and omissions program with Everest Indemnity Insurance Co., a member of the Everest Re Group Ltd. The program targets professionals such consulting, technology, Internet, marketing and other service-oriented businesses. The program is available on a surplus lines basis in 50 states with limits up to $5 million.
Contact: www.specialtyglobal.com.

Employment Practices Wage and Hour Coverage
Specialty lines insurer Beazley now offers the availability of coverage for wage and hour claims as an extension of its employment practices liability (EPL) coverage. The wage and hour coverage is available and separately underwritten on Beazley’s stand alone EPL policies as well as on BeazleyOne, a private company liability policy that covers both EPL and directors and officers exposures. Available by endorsement, the wage and hour extension provides a dedicated defense sublimit for wage and hour claims.

Wage and hour claims involve allegations that an employer has violated federal or state laws that govern how employees get paid. Employees’ claims can range from a simple miscalculation of overtime pay to complicated issues involving whether the employee is properly classified as an “exempt” employee earning a salary or a “non-exempt” employee eligible for overtime pay. These claims can be costly to defend and are routinely brought against employers of all sizes.
Contact: www.beazley.com.

Small Business Employment Practices Liability
The Hanover Insurance Group Inc. included employment practices liability insurance coverage as an endorsement to every eligible new and renewal Avenues Business Owners Policy. Customers will have an option to waive EPLI coverage when purchasing or renewing an Avenues BOP. Avenues BOP is part of The Hanover’s small commercial platform, which allows agents to easily quote and, in many instances, issue BOP, commercial auto, umbrella, and workers’ compensation policies, and complete endorsements online.
Contact: www.hanover.com.

Employment Practices Liability
Rockwood Programs enhanced its existing employment practices liability insurance (EPLI) policy. The enhanced coverage form is available in all jurisdictions with the exception of California.

The changes include the following: inclusion of legal expense coverage for wage & hour claims, subject to a sub-limit; removal of failure to comply, major stockholder, and dishonest acts exclusions; addition of a “soft hammer” provision with a 50/50 insured/insurer split; expanded definition of “employee” expanded to include independent contractors and leased employees under the direction of the insured; defense cost outside of and equal to the limits of liability, with certain restrictions.

Minimum premiums start at $1,250 and a wide range of liability limit and retention options available. In addition, policyholders have exclusive access to a broad array of loss control tools available via the Internet. The product is underwritten by Avemco Insurance Co. (AIC), an affiliate of HCC Holdings Inc.
Contact: www.rockwoodinsurance.com.

Accounting Firms’ Professional Liability
Navigators Pro introduced a new professional liability policy for accounting firms. The APL InNAVation, the policy provides coverage for accounting firms, their partners, accountants and staff who are legally obligated to pay covered losses resulting from rendering or failing to perform their duties. A broad definition of professional services includes services performed in an insured’s capacity as an accountant as well as related professional services in information technology, financial planning, and management consulting. The policy is specifically designed for accounting firms with one to 50 accountants and employed professionals. Limits of liability available are up to $10 million for acceptable insureds based upon underwriting evaluation.

The APL InNAVation is underwritten by Navigators Insurance Co. and NIC Insurance Co., which are both rated “A” (Excellent) by A.M. Best.
Contact: www.navg.com

Accountants’ Professional Liability
The Hartford Financial Products, an underwriting unit of The Hartford, offers an accountants professional liability product that provides coverage for certified public accountants and other accounting professionals, including public accountants, enrolled agents, tax preparers and bookkeepers. Firms with up to 50 accountants are eligible. The product is administered by Arrowhead General Insurance Agency Inc., a national program manager specializing in accounting industry customers.
Contact: www.ArrowheadPro.com.

Business Services’ Professional Liability
The Hartford Financial Products introduced The Hartford Professional Choice Liability Policy, a new miscellaneous professional liability policy for firms and their employees involved in the business services industry. The new market is available for market researchers, loss control specialists, franchisors, contest managers, advertising and public relations firms, third party administrators, temporary staffing firms, trustees and a host of other service businesses.The Hartford Professional Choice Liability Policy is an “admitted” policy.
Contact: www.hfpinsurance.com

Lawyers’ Professional Liability
Darwin Professional Underwriters Inc. offers a lawyers professional liability program designed to cover standard market risks. New York-based Professional Coverage Managers has been selected as the program administrator for this product segment. The program is available on an admitted basis in Colorado, Georgia, New Jersey, New York, Ohio, and Pennsylvania and is geared towards law firms in all practice areas, including, but not limited to criminal, residential real estate, and family law. The product offers several distinct features including extended reporting period options (bi-lateral ERP, disability, death, and cessation of practice). Supplementary coverage of up to $5,000 for grievance procedures is also available. Policyholders will also receive a suite of risk management resources including, a 24-hour hotline, online CLE credits, and access to a Web site with practical business, legal, and industry information.
Contact: www.darwinpro.com, www.pcmgroup.com.

Non-Profits’ Liability
Tudor Insurance Co. has an enhanced version of its non-profit organization liability policy. A separate limit of liability is now available for employment practices liability claims (generally available at premiums equal to their current program where directors and officers and EPLI share a single limit of liability).
Contact: www.westernworld.com

Miscellaneous Professional Liability Program
London American Professional Liability LLC, based in Fort Lee, N.J., offers a miscellaneous professional liability program available in most states that is underwritten by an “A” (Excellent) A.M. Best rated insurance carrier. The program is designed for many types of consultants, insurance services, media and real estate classes. Coverage is offered on both a primary and excess basis for risks with up to $250 million in revenue. Policy highlights include: primary and excess coverage available; claims made and reported policy; company has right and duty to defend; coverage is extended to employees while acting within the scope of their employment duties; personal injury coverage; prior acts coverage provided for insureds who have carried continuous coverage; predecessor and successor firm coverage; automatic 60-day extended reporting period; worldwide coverage for suits brought in the U.S. Up to $5 million each claim, $5 million annual aggregate limit, minimum deductible $5,000 each claim, minimum premium $5,000.
Contact: Ed Velasquez, 201-944-7000.

Mental Health Professionals’ Liability
Darwin Professional Underwriters Inc., in Farmington, Conn., expanded its partnership with New York-based American Professional Agency to provide a professional liability insurance program for mental health professionals. Darwin already has a similar program through APA for psychiatrists. The new program is available in all states on an admitted basis. Eligible mental health professionals include psychologists, marriage and family counselors, school counselors, employed counselors, bachelor’s-level employed counselors, clergy and pastoral counselors, certified hypnotists, sex counselors, psychoanalysts, and employed marriage and family therapists.
Contact: www.darwinpro.com.

Alternative and Integrative Physicians’ Liability
General Star Management Co. expanded its physicians professional liability program beyond traditional allopathic and osteopathic physicians. The AIM program provides coverage for physicians whose practices integrate alternative modalities such as acupuncture, ayurvedic medicine herbalism, traditional Chinese Medicine and anti-aging medicine with conventional medicine. Maximum limits available are $1 million/$3 million except for: Florida ($250,000/$750,000); Texas ($200,000/$600,000); and Virginia (limits increased as required by statute). Minimum premium is $10,000. Minimum deductible is $5,000. Coverage is available on a non-admitted basis through General Star’s designated surplus lines brokers. In states where coverage is available, it is provided by General Star Indemnity Co., except for Connecticut. In Connecticut coverage is provided by General Star National Insurance Co. Both companies are rated “A++” by A.M. Best and “AAA” by Standard & Poor’s. Coverage is not available in Kansas, Indiana, Louisiana, New Mexico, New York, Pennsylvania or South Carolina.
Contact: wwwgeneralstar.com.

Miscellaneous Medical Malpractice
Encino, Calif.-based NAS Insurance Services has a miscellaneous medical malpractice insurance program provided by Houston Casualty Company, rated “A+” by A.M. Best. Underwriting is available in all states except Alaska, Hawaii and West Virginia. The minimum deductible is $1,000, and the minimum premium is $2,000.
Contact: www.nasinsurance.com.

Packages and Programs
ElderCare Program
Lighthouse Underwriters has expanded its ElderCare program with four new proprietary products. The new products, all of which are “A” rated with claims made forms and combined general liability and property liability forms, are: AdultCare, coverage for free-standing adult daycare centers; HomeCare, coverage for free-standing and facility-based providers; HospiceCare, coverage for hospice service providers; and WeCare, coverage for residential developmentally disabled care providers.

With the new products, the ElderCare program now offers a skilled care program, CCRC (continuing care retirement communities) program, two assisted living programs, adult daycare, home health care, coverage of residential developmentally disabled, hospice and individual professional liability for health care administrators.
Contact: www.lighthouseunderwriters.com

Fitness & Wellness Studios
Philadelphia Insurance Companies launched a product for Fitness & Wellness Studio Operators with a focus on storefront risks that offer one-on-one fitness training or group fitness training. Available coverage includes businessowners policy, property and general liability as well as professional liability. Coverage enhancements also available.
Contact: www.phly.com

Environmental Program
Hudson Programs, an operating division of Hudson Insurance Group, expanded its environmental insurance program nationwide, plus the District of Columbia. The program is exclusively underwritten by Denver-based Freberg Environmental Inc. with claims administration Murdock Claim Management Company of Windsor, Conn.

Coverage for all size of environmental engineers, consultants and contractors, above ground and underground storage tanks, as well as site pollution coverage for a wide variety of facilities. The program is largely written on a non-admitted basis. Admitted capability is currently limited to New York and New Jersey. Commercial general liability, contractor pollution liability, professional liability and 1st and 3rd party pollution liability available with limits up to $10 million. Minimum premiums generally start at $3,000, $1,500 for tank business. Site pollution policy terms available up to 10 years.
Contact: Mike Hill, mhill@feiinsurance.com.

Hospitals’ Liability Program
Mid-Continent General Agency offers a medical professional and general liability insurance program for small hospitals to all 50 states. Hospitals with under 100 staffed beds are eligible, as well as critical access, rural/community and certain specialty hospitals. The program is backed by various carriers with “A XV” (Excellent) ratings or better. Limits are available up to $10 million per occurrence and $10 million aggregate, with claims expense outside the limit. A minimum deductible of $1,500 applies. The professional liability is written on a claims-made form, and the general liability is occurrence.
Contact: www.Mid-Continentga.com.

Freight Forwarders’ Program
Insurance package by Fireman’s Fund Insurance Co. offering combinations of shippers interest, bailee, legal liability, and errors and omissions coverages for freight forwarders. The target audience is small to midsized freight forwarders with revenues between $5 million and $25 million seeking limits of up to $5 million.
Contact: www.firemansfund.com

Office Condominium Associations’ Program
Philadelphia Insurance Companies broadened the eligible classes for its condominium product to include office park condominium complexes. Available coverages include property, general liability, automobile, garagekeepers and umbrella. General limits up to $1 million/$3 million are available. Umbrella liability limits of up to $1 million are available. Acceptable classes include office condominiums with an occupancy rate of at least 80 percent, and area used as office space of at least 75 percent. Other underwriting criteria and restrictions apply.
Contact: www.phly.com

Hotel Program
Kansas City-based GE Insurance Solutions has a primary insurance product designed for specific segments of the hotel industry. Offered through Klein Insurance Services of West Paterson, N.J., and available only through insurance agents and brokers, the comprehensive, multi-line property/casualty program is designed to cover risk exposures for hotels that cater to business and short-stay leisure travelers.

Offered across the country, specific elements of the new program include: eligibility, any hotel or motel not considered a destination resort, residential hotel or a convention/conference center; coverage; broad coverage tailored to hotels; liquor liability; garage keeps liability; hired and non owned auto; admitted paper; and package policy.
Contact: www.kis-hospitality.com.

Businessowners Package
Great Central Insurance, a member of the Select Markets segment of San Antonio-based Argonaut Group Inc., added a businessowners product to its portfolio of insurance products and services. Great Central offers its new, specialized business owners package in 46 states (all states except Alaska, Hawaii, New Hampshire, and Vermont). The businessowners product has been added to Great Central’s Great Protector Series, its tailored insurance programs for its target industries of food and hospitality, specialty retail, and religious institutions. This product includes industry specific enhancements combined with broader equipment breakdown and identity theft coverage for restaurants, hotels/motels, convenience stores, strip shopping centers, laundries, drycleaners and related businesses.
Contact: www.argonautgroup.com

Law Firm Package Policy
The Chubb Group of Insurance Companies enhanced its Customarq for Law Firms policy to included increased limits and key policy enhancements at no extra cost. Chubb has increased Customarq’s automatic blanket limit from $300,000 to $500,000 for 12 property coverages. Insureds may also purchase higher limits of $1 million or $2 million, subject to underwriting, and smaller firms can opt for a $250,000 blanket limit.

Other policy features include:

— Lessors of premises and equipment are automatically included as insureds under the general liability contract, which is important for law firms that lease their office space or electronic systems.

— Property coverage that includes impairment of computer services, which addresses emerging first-party exposures presented by the Internet. This insurance protects against the business income loss, extra expense and electronic data recovery costs caused by an illegal or malicious entry into electronic data or systems.

— A flexible business income definition that reflects the way a firm generates revenue, such as billable hours, fees for services or other sources of income.

— A global extension enabling domestic and foreign exposures to be insured under one policy.
Contact: www.chubb.com

Excess Auto Liability Program
Environmental Insurance Program Manager, Freberg Environmental Inc. (FEI) has launched an excess automobile liability program with an A.M. Best rated “A VIII” domestic insurance company. The excess auto liability insurance program provides limits of liability of up to $4 million. The program is designed to provide excess limits over FEI’s hazardous material and hazardous waste trucking program with Arch Insurance Group. The Arch program provides a maximum limit of liability of $1 million. With the addition of the excess program FEI has the capacity to offer $5 million in limits of liability to hazardous materials and hazardous waste trucking accounts.

The program includes excess limits of liability over the auto liability and pollution liability provided by FEI’s program with Arch. All excess business is written on a surplus lines basis and is available in all states except Louisiana, Massachusetts and New York. The coverage can be written only in excess of an FEI underwritten Arch Insurance Company policy with a minimum policy premium of $7,500.
Contact: John Fusie 800-377-4152, jfusie@feiinsuance.com.

Security Providers’ Liability Program
General Star Management Co. developed a security guard and security providers liability program. The program provides commercial general liability coverage (including products and completed operations) and professional liability coverage (including personal and advertising liability) under a single policy. Assault and battery; care, custody and control; and lost key coverages are available by endorsement. Minimum premium is $15,000. Common policy limits are $2 million. Policy aggregate is $1 million each event. Commercial general liability (including products and completed operations) is $1 million each occurrence; and professional liability errors and omissions (including personal and advertising liability) $1 million each professional incident limit are available. First dollar coverage will be considered for risks that qualify.

The coverage is available countrywide on a non-admitted basis through General Star’s designated surplus lines brokers. Coverage is provided in all states except Connecticut by General Star Indemnity Co. In Connecticut, coverage is provided by General Star National Insurance Co. Both companies are rated “A++” by A.M. Best and “AAA” by Standard & Poor’s.
Contact: Cole Palmer 203-328-6533 or Michael Keane 203-328-6739.

Durable Product Distributors’ Program
Program manager Smith, Bell and Thompson and Westport Insurance launched an insurance program for Distributors of Durable Products (DISPRO). Wholesalers in the automobile parts, furniture, equipment, plastics/electrical, hardware, construction and industrial supplies, paper/stationary and miscellaneous goods industries are eligible.

The program targets 23 SIC classification codes within these broader industry descriptions. The programs is offered in 48 states and includes general liability, property, crime, inland marine, auto liability and umbrella coverages on a package basis. The program is available on Westport admitted paper.
Contact: www.sbtinsurance.com

Entertainers/Performers’ Program
Fort Wayne, Ind.-based K&K Insurance Group Inc. has launched a new insurance program designed specifically for entertainers and performers who work on an independent contractor basis at fairs, festivals, special events, private parties, conventions, tradeshow booths, etc. The program is offered to entertainers with annual receipts under $30,000. Coverages provided include liability protection for the performer for claims arising out of their operations. Coverages are provided through a risk purchasing group and include liability and medical payments to participants. Premium is $200 for $1 million/$2 million limits and $300 for $2 million/$2 million limits. The carrier is Nationwide Mutual Insurance Company, rated “A+” (Superior) by A.M. Best.
Contact: Kevin Kurtz, 866-554-4636.

Public Entities’ Environmental Liability Program
Trident Insurance Services LLC, a wholly owned subsidiary of San Antonio-based Argonaut Group Inc., has a product for environmental impairment liability for public entities, public schools and public and private water utilities, waster transfer facilities, and recycling centers. Features include general liability and environmental pollution liability coverage with environmental liability limits available up to $25 million per occurrence/$25 million aggregate. Highlights are bodily injury and property damage coverage, on and off site clean-up, and contingent transportation defined as bodily injury, property damage, or clean-up costs as a result of transportation of insured’s waste products by a common carrier. The product is insured and serviced through an A.M. Best “A+” rated carrier with underwriting provided by Trident.
Contact: www.argonautgroup.com

Life Sciences’ Industry Package
ACE USA has a commercial package policy offered to its U.S.-based life sciences customers already covered under its life sciences products completed operations liability policy. This product is offered by ACE Medical Risk, an operating division of ACE USA, which provides a liability products for the health care industry.

Key features include: blanket real and personal property, including business income and extra expense; general liability; personal and advertising injury; automobile; inland marine; boiler machinery; crime; spoilage, contamination, and research and development costs to reconstruct clinical trials.
Contact: Philip Twietmeyer, Philip.twietmeyer@ace-ina.com.

Annual Events Program
Abacus Insurance Brokers Inc., a Los Angeles-based retail and wholesale insurance brokerage that distributes traditional and specialty insurance products online through the Abacus Program Management Platform, has introduced a new annual events program. The program is available in all 50 states. The portfolio of over 150 eligible events includes plays, trade shows, weddings, and concerts. Duration is up to 90 days per declared event with up to 10,000 attendees per day. Carriers are all “A” rated. There is a $1,500 minimum premium.
Contact: www.apmplatform.com.

Real Estate Appraisers’ Program
San Diego-based Alliance Marketing and Insurance Services announced it is offering broader package policies for real estate appraisers handling residential and commercial property. This policy is underwritten by an “A- VII” surplus line insurer and is available in 48 states. It has commercial general liability coupled with errors and omissions and is written on occurrence forms. The policy’s professional liability coverage is designed to meet the needs of today’s real estate appraisers. Miscellaneous property coverage is available as part of this package. AMIS is now also offering miscellaneous property coverage for their private investigators and insurance adjusters with limits $50,000 per occurrence for $350 annually, or $100,000 per occurrence for $500 annually. The coverage has a $500 deductible, and is limited to $10,000 for any one item. This coverage is available as part of the general liability and errors and omissions package.
Contact: www.amisinsurance.com.

Small Condo/Apartment Buildings Program
New York, N.Y.-based Distinguished Programs rolled out a small condo and apartment building program designed to give small building owners the same level of coverage and deductible options available to larger property owners. The City Homes Insurance Program is a new property, liability and umbrella program for condo and apartment buildings with 20 units or less and up to $5 million in insured values. The program, which is available exclusively through agents and brokers, was launched earlier this spring, but has now been rolled out in 13 cities across the country, including: Albany/Troy, N.Y., Alexandria, Va., Baltimore, Chicago, Denver, Los Angeles, Milwaukee, Minneapolis, Philadelphia, Portland, Ore., Seattle, St. Louis, and Washington, DC.
Contact: www.distinguished.com.

Community Development Program
Portland, Ore.-based Gales Creek Insurance Services Inc. (GCIS) opened its Community Development Corp. (CDC) program to insurance agents and brokers nationally. The program began in 1989 and is underwritten by an “A” rated carrier. The GCIS policy includes: tax credit projects; automatic cover ‘for profit’ subsidiaries; two-year rate guarantee; defense costs outside limits; automatic coverage for volunteers, trustees, committee members; employment-related practices liability including sexual harassment, discrimination and wrongful termination; defense of third party employment-related practices claims; amended BI/PD exclusion to create coverage for mental and emotional distress; outside directorship coverage; defense costs incurred by insuring contesting a claim for taxes/fines under IRS code; full prior acts and libel and slander coverage.

For consideration in the program, CDC’s must be affiliated with one of the many national organizations that work in the field or receive funding from them, related to a Municipal Housing Authority or be a member of their state CDC trade association.
Contact: Kim Hutchinson at 800-755-1575, ext. 224.

Retail Furniture Stores’ Program
San Antonio, Texas-base Argonaut Group’s Select Markets segment launched a new program for the retail furniture store marketplace. Highlights of the Retail Furniture Store Insurance Program include property coverage with optional deductible levels and business income coverage valued at actual loss sustained. Optional additions include the value added, Retail Furniture Advantage endorsement, that offers several broad property coverages on one form. The program also offers workers’ compensation guaranteed cost plans, general liability, earthquake, and computer coverage. The Select Markets’ Retail Furniture Insurance Program is endorsed by the Western Home Furnishing Association (WHFA) as a preferred provider to its member stores. The WHFA is a regional organization offering information, education, and financial resources to nearly 1,200 members in 12 western states.
Contact: 800-777-3602, ext. 1696.

Military Housing Developments’ Program
Venture Insurance Programs, based in West Chester, Pa., launched Venture Housing, an insurance program for military housing developments. Most military housing installations involve joint ventures between construction companies and property management companies. Venture currently writes only property management exposures, but has future plans to expand the program to include construction exposure, which will be underwritten by carriers to be announced at a later date. Current coverage for property management exposures is underwritten by Venture Insurance Programs utilizing Markel Corporation’s A.M. Best “A” rated, non-admitted insurance companies, as well as several other “A-” to “A++” admitted and non-admitted insurance companies as needed.
Contact: www.ventureprograms.com.

Personal lines
Identity Theft Insurance
St. Paul Travelers, a provider of property/casualty insurance, and the Independent Community Bankers of America (ICBA) launched a new market for identity theft for ICBA member banks. The coverage, which is available for community banks to offer to their customers and employees, reimburses victims for the most common out-of-pocket expenses incurred when someone is victimized by identity theft — including lost wages, attorney fees (for suits brought incorrectly by merchants or their collection agencies, removing criminal or civil judgments wrongly entered against the victim and challenging incorrect information in a credit report), notary fees and certified mail charges.

High-Value Homeowners
Lexington Insurance Co., a member company of American International Group Inc. (AIG), expanded its LexElite homeowners insurance policy to now include coverage for mechanical breakdowns, identity theft and accidental death and dismemberment (AD&D). In addition, LexElite Homeowners Insurance is also offering optional excess charitable board directors and trustees liability insurance for homeowners serving on the board of directors of qualifying non-profit organizations.

LexElite Homeowners Insurance is designed for high-value homes or high-risk properties, including coastal properties. It can cover primary, secondary, and seasonal residences as well as rental properties.
Contact: John Moran, 617-345-4112 or john.moran@aig.com.

Surface Water and Flood Coverage
Fireman’s Fund Insurance Co., Novato, Calif., offers a surface water and flood endorsement to its Prestige Home Premier policy. The Fireman’s Fund coverage option contains no dwelling or personal property limits unlike the National Flood Insurance Program. Limits can go as high as the dwelling and contents limits of the Prestige Home Premier policy. Fireman’s Fund coverage also includes $100,000 for flood damage to any combination of the following: underground structures and equipment, such as wells and septic tanks; walkways, decks, driveways, and patios; fences, retaining walls, seawalls, piers, bridges and docks; and hot tubs, spas and swimming pools.
Contact: www.firemansfund.com.

High-Value Yacht
Fireman’s Fund Insurance Co. launched a high-end policy for personal yachts that covers yachts, along with captain and crew, typically valued over $1 million. The new policy, Prestige Yacht, is available in every state.
Contact: www.firemansfund.com

Wrap Product for Condominiums
NBIS, the exclusive manager for ProBuilders Specialty Insurance Co., RRG, expanded its wrap product to include condominium conversion projects in all states except New York. NBIS is targeting the following conversion projects: 30 or fewer condo/town home units; three or fewer buildings; and projects $20 million or less. Limits available are $2 million/$2 million/$2 million. Minimum SIR is $50,000 per occurrence. Minimum premium varies by size of project. Policy term-maximum is 24 months. NBIS will require a mandatory sunset clause with clause options of two, three and five years on their wrap-up conversion product. NBIS is not looking to write cosmetic conversions. Exceptions will be made if the original building was completed in the past five years.
Contact: www.whitcombins.com.

Wrap-ups, Conversions for General Contractors
Arrowhead General Insurance Agency Inc.’s Managed Insurance Programs Division is offering a market for wrap-ups and conversions for general contractors and developers. Policy limits go to $5 million/$5 million/$5 million. Deductibles are $50,000 self-insured retention. Minimum premiums are $250,000. Coverage is being written on a nonadmitted basis by a “A” (VIII) rated carrier, and is available in most states.
Contact: www.ArrowheadGrp.com.

Builder’s Risk Program
Network E&S Insurance Brokers LLC launched a limited access builder’s risk/contractors equipment program available for residential and commercial new construction and remodels owners/developers and contractors. The market is “A XV” rated by A.M. Best.
Contact: Fresno, 559-449-9500; San Francisco, 415-546-4900; Calabasas, 818-224-2060.

Millwright Contractors
Millwright contractors now have access to a single source for their insurance and risk management needs according to a written statement issued by Travelers Construction. The products available for millwright contractors include workers’ compensation, commercial general liability, automobile liability and physical damage, property, inland marine, umbrella and surety. The product is available across the country.
Contact: www.stpaultravelers.com.

Fire Sprinkler Contractors
St. Paul Travelers announced that a new offering for Fire Sprinkler Contractors has been added to its portfolio of construction insurance products and services. Products available include general liability, workers’ compensation, property, and umbrella. Ideal customers are contractors with more than 20 employees, and are affiliated with an industry association such as the National Fire Protection Association or the American Fire Sprinkler Association. Specialized risk control services furnish information on aerial and scaffolding safety, ladder safety and ergonomics for safe pipe handling. Risk control experts in fleet programs, liability (including professional liability exposures) and property provide consulting services, customized training, assessments and audits, and technical resources as needed.
Contact: Mike Longenbaker, 860-277-5538, mlongenb@stpaultravelers.com

Marine Cargo Coverage
Carrollton, Ga.-based Britt Paulk Insurance Agency Inc. has teamed up with Beazley USA, an admitted “A-” rated company, to provide Ocean Marine Cargo coverage focused on writing risk for small and mid-sized U.S. importers. Highlights of the new market include: quick quote turnaround; minimum premium of $1,500; easy to manage annual policy with yearly adjustment; seamless coverage for ocean/air transport, domestic transit and warehouse; and online policy underwriting system. The program is underwritten by admitted U.S. companies with “A-” ratings or better (as determined by A.M. Best).
Contact: Mike Pilla at 770-214-7607, mike.pilla@brittpaulk.com.

All-Lines Marine
Venture Insurance Programs launched Venture Marine as an all-lines solution for insurance agents and brokers with marine-related exposures. Venture Marine utilizes multiple insurers with a minimum “A-” rating, and is available in all states, serving marina operators, boat dealers, ocean cargo, commercial hull, marine liabilities, and yacht owners and clubs.
Contact: www.ventureprograms.com.

Workers’ Compensation
Indian Tribal Workers’ Compensation
St. Paul Travelers has introduced a Tribal Workers’ Compensation product for Indian tribes and their enterprises. This product is specifically designed for federally-recognized Indian tribes that have a tribal ordinance which requires employers to pay benefits to their employees for employment-related bodily injury. St. Paul Travelers Tribal Workers Compensation differs from other workers’ compensation products in the marketplace because the policy correlates with the worker injury plan established by the tribe’s ordinance rather than individual state laws.

Part of the claim service provided through Tribal Workers’ Compensation includes access to a staff of dedicated nurses to help injured employees return to work. In addition, tribal employers can work with claim employees that are experienced in handling tribal claims.
Contact: www.stpaultravelers.com.

Miscellaneous Commercial Lines
Monoline Truck Physical Damage Coverage
Tustin, Calif.-based National Advantage Insurance Services Inc. has added a new market for monoline truck physical damage and/or non-trucking auto liability coverage in California, Arizona, Oregon, Texas, Alabama, Georgia and Tennessee. This is an admitted, A.M. Best carrier with the rating of “A VII.” In addition, motor truck cargo will be offered as an add-on option. This carrier is looking for one to 10 unit good risks, for any radius.
Contact: www.NationalAdvantageIns.com or call Clifford Mapes at 714-505-1015.

Warehouse Legal Liability Policy
Lexington Insurance Co., a member company of American International Group, Inc. (AIG), offers a Warehouse Legal Liability policy providing coverage for the warehousing, trucking and logistics industries. The policy addresses legal liability that may arise from the loss of property in the insured’s custody. Warehouse Legal Liability insurance can be purchased alone or as part of Lex TransportPlus. Defense costs are paid outside of the policy limits. Included with Warehouse Legal Liability coverage, Lexington offers comprehensive loss prevention services to address fire protection and specialized security requirements for target commodities. In addition, Warehouse Legal Liability offers optional coverage to enable policyholders to tailor insurance for specific areas of exposure.
Contact: Steve Silverman, 617-330-8492, Steve.Silverman@AIG.com.

Non-Construction Liability
American Safety Insurance Services Inc. entered the general liability market for non-construction risks and expanded its capability to offer excess and umbrella liability coverage. The target market for the non-construction coverage will be primary general liability for current and discontinued industrial, commercial and consumer products. Premiums begin at $7,500, with self insured retentions and deductibles beginning at $2,500 and limits can go to $5 million over ASI’s primary, as well as other carriers’ primary policies. Premiums begin at $2,500 for low and medium hazard risks and $7,500 for high-hazard risks.
Contact: www.americansafety.com.

Armonk, N.Y.-based Hiscox USA, the U.S. subsidiary of Hiscox plc, began providing terrorism insurance in the United States. The coverage will be offered to brokers through Hiscox USA’s Armonk, N.Y., headquarters with a team of underwriters and professionals. The key contact for the product in the U.S. will be Alex Heywood, vice president of terrorism insurance at Hiscox USA.
Contact: www.hiscox.com.

Green Building
Fireman’s Fund Insurance Co. introduced Certified Green Building Replacement and Green Upgrade coverages, a new coverage specifically for green commercial buildings that addresses the unique risks that are acquired with sustainable building practices. This offering of coverages protects buildings that are green-certified as well as buildings and facilities whose owners would like to capture green benefits. The coverage for LEED certified buildings offers a discount due to lower risk factors. Conventional insurance policies only cover the cost to restore a building to its original condition.
Contact: www.firemansfund.com.

Product Recall Expenses, Liability
Lexington Insurance Co., a member company of American International Group Inc. (AIG), offers RecallResponse, coverage for first-party expenses and third-party liability arising from the recall of finished or component goods. The policy is provided as a supplement to Lexington’s product liability insurance. RecallResponse can cover product recall expenses alone or can be expanded to cover liability to third parties arising from the recall. Expenses associated with extra warehousing and extra personnel to support a recall can be insured as well. Coverage can be extended worldwide. Lexington’s product liability insurance is available on a primary or excess basis to numerous types of companies, ranging from food processing and packaging to durable goods manufacturing.
Contact: lexnewproducts@aig.com.

ElderCare Legal Expense Reimbursement
U.S. Risk Underwriters introduced a ElderCare Legal Expense Reimbursement policy for long-term care facilities, including skilled care, assisted living and continuing care retirement communities. The policy reimburses these facilities for certain legal expenses that may be incurred in defense of a professional or general liability claim caused by a medical incident, event or offense. There is a deductible of $5,000 with limits up to $250,000. Coverage is available in all states except Florida, Mississippi and Alaska, and is written with an “A” rated carrier on a claims-made basis. No coverage is provided for loss or indemnity.
Contact: Dallas, 800-952-7738, D.C., 800-948-5800 or Houston, 800-833-8803.

Contagion Outbreak Expense
Markel Corp. introduced Outbreak Extra Expense Coverage specifically designed to protect companies from a closure of their business premises due to a variety of contagions including Avian Flu. The Outbreak Extra Expense Coverage is available through all Markel U.S. subsidiaries via their normal distribution channels.
Contact: www.markelcorp.com.

Topics Carriers USA Agencies Texas Trends Claims Auto Excess Surplus Workers' Compensation Profit Loss Flood Tech New York Underwriting Property Market Property Casualty Homeowners Pricing Trends Pollution Training Development London AM Best Business Interruption Construction Chubb Medical Professional Liability Risk Management Professional Liability Connecticut Contractors Casualty Trucking AIG Directors Officers Senior Care Alaska

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Insurance Journal West December 25, 2006
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