New Markets

Management Consultants and Staffing Firms

Nuts & Bolts: Victor O. Schinnerer and Company launched SpecialtyOne, an E&O insurance program for management consultants and staffing firms. Target risks for the program include a range of consultants, such as management, marketing, human resource, public relations and market research firms, as well as staffing firms. The SpecialtyOne duty-to-defend policy also features defense coverage against allegations of criminal, dishonest, fraudulent or malicious E&O and an innocent insured provision. Claims will be handled by a third-party administrator specializing in professional liability claims.

Dollars: Minimum premium is $2,500 and deductibles start at $2,500 for up to $1 million in annual revenue. The policy limit is $5 million.

Carrier: Brit, a Lloyd’s of London Syndicate, rated “A,” nonadmitted.

States Available: All except Alaska, Hawaii, Illinois and Kentucky. Coverage will soon be available in Illinois and Kentucky.

Contact: Mark Wolf, (301) 961-9867, mark.s.wolf@schinnerer.com or Mary Jefferson, (301) 951-9798, mary.l.jefferson@schinnerer.com.

High Performance Boats Program

Nuts & Bolts: Markel American Ins. Co. teamed up with Elton Porter Marine Ins. Agency to offer a new ultra high performance boats program. This program provides hull and liability coverage for boats with speeds ranging between 120 mph and 150 mph.

Dollars: Limits are $750,000 on the hull, $500,000 for liability. Deductible, 10 percent.

Carrier: Markel American Ins. Co., admitted.

States Available: All.

Contact: Tom Conroy, (800) 236-2862 ext. 3355, tconroy@markelcorp.com or Ken Collier, (800) 759-2628, ken.collier@businessinsurancegroup.com.

Specialty Ship Repairers and Marine Contractors

Nuts & Bolts: St. Paul Travelers introduced the Shipwright Program for specialty ship repairers and marine contractors with annual gross receipts of $350,000 or less. A single policy combines marine general liability, ship repairers’ legal liability and miscellaneous property coverage for this specialty market. The new program utilizes a highly automated and simplified rating approach to offer competitive pricing, flat premiums, low deductibles and comprehensive coverage. Shipwright is immediately available to employee-owned or owner-operated ship repairers and marine contractors that are primarily involved in marine repair work and have been loss-free for at least three years. Must have gross receipts of $350,000 or less.

Dollars: Limits are $1 million per occurrence, $2 million on aggregate and $500,000 for miscellaneous property. There is a minimum premium of $2,000. Deductibles are $1,000 on miscellaneous property and $2,500 for marine general liability.

Carrier: St. Paul Fire and Marine, admitted.

States Available: All.

Contact: St. Paul Ocean Marine Field Operation, George Butler, (732) 321-5623 or gcbutler@spt.com.

To submit information for this department,

e-mail bwells@insurancejournal.com.