My New Markets

BOP, Beauty, Nail Salons

Nuts & Bolts: Bass Underwriters has a new admitted program for BOPs targeting a varied selection of risks. The program will entertain such businesses as beauty and nail salons, clothing stores, convenience stores, electronic and video stores, fast food restaurants and taquerias, LRO, laundromats, offices, retail liquor stores, and more. New ventures are okay. Value plus endorsement is okay. Minimum premium is $500 with low limits. Some require $0 to $500 deductibles, depending on the class.

Dollars: $1 million per occurrence/$2 million aggregate.

Carrier: Rated “A++” by A. M. Best. Admitted and non-admitted.

States: Calif., Penn., Fla., Nev., N.Y. and Texas.

Contact: Barbara Anderton at 916-929-8008 or 888-929-8008 or e-mail banderton@bassunderwriters.com.

Skating Rinks, Roller and Ice Venues

Nuts & Bolts: American Insurance Alliance is offering Roller and Ice Skating venues that are traditionally difficult to insure general liability coverage. American Insurance Alliance’s only business is skating venues with 18 continuous years specializing in the class.

Dollars: $300,000 to $2 million.

Carrier: Tudor Insurance Co., Essex Insurance Co rated “A+” by A.M. Best. Non-admitted.

States: Ala., Ariz., Ark., Calif., Colo., Conn., Del., Fla., Ga., Idaho, Ill., Ind., Iowa, Kan., Ken., La., Md., Mass., Mich., Minn., Miss., Mo., Mont., Neb., Nev., N.H., N.J., N.M., N.Y., N.C., N.D., Ohio, Okla., Ore., Penn., R.I., S.C., SD, Tenn., Texas, Utah, Vt., Va, Wash., and W.V.

Contact: Gerald Officer at 636-464-9200 or e-mail: jofficer@earthlink.net.

Logging and Lumbering

Nuts & Bolts: O’Donovan & Associates’ Timber Harvester Program is designed to provide customized coverage for the contractor who harvests and hauls timber and related products. Mechanized and manual cutting operations are both included. Related timber dealers with storage facilities may also be included. Package policies including automobile, general liability and property are available.

Dollars: Up to $1 million.

Carrier: Rated “A” by A.M. Best. Admitted.

States: Ariz., Calif., Fla., Ga., Ky., La., Md., Mich., Minn., N.C., Ore., Penn., S.C., Tenn., Texas, Wash., Wis.

Contact: Jeremiah P. O’Donovan, at 800-410-6333 ext. 228 or e-mail jeremiahp@odonovanassoc.net.

Historic Rehab Tax Credit

Nuts & Bolts: Lexington Insurance Co., a member company of American International Group, Inc. (AIG), has announced Historic Rehabilitation Tax Credit (HRTC) Insurance, a new coverage designed to help protect owners and developers of commercial properties qualifying for federal rehabilitation tax credit against a financial loss if during rehabilitation or after occupancy, the property suffers significant damage from an insured event and such damage results in a reduction in, or recapture of, the tax credit. Entities that rehabilitate and use historic structures or buildings constructed prior to 1936 for commercial purposes may qualify for significant federal tax credits under Internal Revenue Code Section 47. Large corporations and other businesses with substantial tax liabilities invest in these properties, typically in a limited partnership arrangement with the property developer, in order to achieve these tax credits. Financial exposure through the loss or reduction of the tax credit arises if the property is damaged significantly and as a result, its historical significance diminished. This exposure is typically assumed by the developer as part of the limited partnership agreement at the onset of the venture. HRTC insurance is designed to help protect owners, developers and tax credit investors against the loss of the rehabilitation tax credit during the full duration of the exposure, through rehabilitation and the first 5-years of occupancy.

Dollars: Up to $40 million.

Carrier: Lexington Insurance rated “A++” by A.M. Best. Non-admitted.

States: All.

Contact: Ed Mazman at 617-443-4660 or e-mail Edward.mazman@aig.com.

School Violent Acts

Nuts & Bolts: Genesis Underwriting Management Co. has developed a first party insurance policy to fund many of the elements of a school’s emergency response plan. Typical covered expenses include post crises management services; post incident crises intervention and containment; media, public relations and communications costs; security and civil authority expenses; air travel and hotel costs for the parents, spouse or child of a victim to the location where the school violent act occurred; as well as a limited amount for property or equipment that relates directly to the security of the school and which may assist in the mitigation or prevention of future acts.

Dollars: Limits up to $250,000. Minimum deductible is $2,500.

Carrier: Genesis Indemnity Co. rated “A++” by A.M. Best. Non-admitted.

States: All, except New Hampshire and North Dakota.

Contacts: East of Mississippi, Matt Meyer at 859-245-2500 or e-mail matt_meyer@
rpsnis.com or west of the Mississippi, Nancy Gelis at 800-275-6472 or e-mail nancy_gelis@rpsnis.com.

Office/Manufacturers Technology

Nuts & Bolts: Travelers Select Accounts is now offering Technology Office Pac and Technology Manufacturers Pac Plus. The two new segments are a part of Master Pac, Travelers’ Business Owner’s Policy for small commercial insurance. They cover the risks associated with small technology-focused businesses and provide two newly added optional endorsements for those who want to enhance their insurance coverage. The new products address more than 25 specific coverage features important for technology businesses, including Denial of Service Attack and coverage extensions found in Travelers’ XTEND Endorsement. Technology Office Pac is tailored for businesses like computer consultants, software firms, or Web site designers. Technology Manufacturers Pac Plus provides coverage for businesses that manufacture technology products. As part of the core Master Pac coverage offering, Denial of Service Attack protects businesses from loss of revenue or income due to the necessary suspension of electronic computer operations caused by an attack that denies customers access to the business via the Internet. Denial of Service Attack provides insurance coverage up to $25,000 and is automatically attached to every technology account that has business income and extra expense coverage. Denial of Service Attack is also available for non-technology businesses up to a limit of $10,000.

Dollars: $2 million/$4 million general liability; umbrella, $25 million.

Carrier: Travelers rated “A+” by A.M. Best. Admitted.

States: All, except Alaska and Hawaii.

Contact: John P. O’Connor at 860-277-6248 or e-mail joconno5@travlers.com.

Commercial Auto

Nuts & Bolts: Texas Specialty Risk Programs is offering coverage on commercial auto fleets, 1-20 power units. Lowest pricing available. Same day quotes if requested. No loss info required. Submission only requires accord application and business accord auto application. No volume commitment.

Limits: $20,000 to $1million.

Carrier: Rated “A” by A.M. Best. Admitted.

States: Fla., La., Tenn. and Texas.

Contact: Cameron Wunsch at 817-442-9265 or e-mail quotes@txsrp.net.

Surety and Performance Bonds

Nuts & Bolts: American Eagle Bonding is offering surety and performance bonds for clients with good and bad credit. All types of bonds, except bail bonds.

Dollars: $1,000 to $80 million.

Carrier: Capitol Indemnity rated “A” by A.M. Best. Admitted.

States: All, except Hawaii.

Contact: Kathryn White at 480-985-1618 or e-mail aebonds@msn.com.

Earthquake and Flood, DIC

Nuts & Bolts: AmWins Insurance Brokerage of California is offering Difference in Conditions or Stand Alone coverage; Stand alone Zone A Flood. No age, construction or parking limitations. Quick turn around.

Limits: $1million to $500 million.

Carrier: Rated “A” by A.M. Best. Admitted and non-admitted.

States: All.

Contact: L-Tanya Mabrie at 818-772-3823 or e-mail Tanya.mabrie@amwins.com.

Topics Texas AM Best