View this article online: https://www.insurancejournal.com/magazines/mag-newmarkets/2005/12/04/151059.htm
Non-Franchised Auto Dealers
Nuts & Bolts: DMI Insurance Services Inc. ha expanded the range of markets it supplies to producers serving non-franchised auto dealers and automotive specialty shops. The new markets will be available immediately through admitted and non-admitted carriers in select states. Burlington Insurance Group and Western Heritage Insurance Co. (a Nationwide Co. rated A+15) are new markets for DMI. The new markets will supply coverage that has not been readily available to many producers-due to low volume, certain classes of business or characteristics unique to specific businesses-within the non-franchised auto dealers and automotive specialty shops industries.
Dollars: Deductible $500, minimum premium $1,500.
Carrier: Burlington Insurance Group and Western Heritage Insurance Co. rated “A+” XV, admitted and nonadmitted. Claridon Insurance, admitted.
States Available: Arizona, Colorado, Florida, Illinois, Indiana, Kansas, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Mexico, New York, Ohio, Oregon, Pennsylvania, North Carolina and South Carolina.
Contact: Tina Evans, (800) 877-2525 ext. 2012.
Luxury Condos and Co-ops
Nuts & Bolts: The Chubb Group of Insurance Companies has rolled out insurance packages for the owners of luxury condo and co-op apartments in New York. The policies address coverage gaps created by building associations reducing their commercial insurance limits and increasing their deductibles during the past few years. Masterpiece Condominium Preference and Masterpiece Cooperative Preference provide high limits of property and liability insurance coverage. They include $100,000 in coverage for assessments to all unit owners for incidents that may not be adequately addressed by a building association or its master insurance policy. Separate $10,000 limits apply for assessments resulting from deductibles under the association’s policy. Preference, which also is available in Illinois, is Chubb’s latest offering in the condo and co-op insurance marketplace. Preference offers even higher limits and added coverages. Like Masterpiece Deluxe, additions and alterations extended replacement cost coverage is available for eligible New York residences. Preference includes $25,000 in jewelry coverage, $50,000 in fine arts coverage and $25,000 in silver coverage, written on either a blanket or itemized basis. Other features include $10,000 for off-premises electronic data processing equipment and $10,000 for electronic data restoration, which respond to the theft of laptop computers and personal digital assistants, as well as to the corruption of personal data due to computer viruses. Separate limits of $2,500 are included for both lock replacement and fire department charges.
Dollars: Deductibles range from $500 to $50,000. The minimum limit is $300,000 for alterations and additions, $400,000 for contents.
Carrier: Several Chubb Group of Companies members including Federal and Vigilant, all rated “A++” by A.M. Best; admitted in New York.
States Available: Illinois and New York.
Contact: www.chubb.com/personal.
Energy Risk
Nuts & Bolts: ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, has formed ACE Energy, a new retail business unit focusing on the U.S. energy marketplace. The business will offer a full suite of property and casualty products for energy related entities, including coverage for: onshore and offshore oil and gas facilities; power and utility generating facilities; inland marine, on a retail basis; high-challenge facilities, such as mining; and custom and excess casualty lines.
Dollars: Property maximum limit of $50 million. Casualty maximum limit up to $25 million in capacity available. Primary and excess coverage also available. Environmental coverage options also available up to $25 million limit for select classes. Deductibles and sublimits will vary with individual risk characteristics.
Carrier: ACE American Insurance Co. rated “A+” (superior) by A.M. Best, admitted and Illinois Union, nonadmitted.
States Available: All.
Contact: Paul O’Neill, (678) 795-4339 or paul.o’neill@ace-ina.com, or Keith Matth-eessen, (713) 403-3020 or keith.mattheessen @ace-ina.com.
Temporary Staffing
Industry Coverage
Nuts & Bolts: AIG Risk Management, a member of American International Group Inc., has launched a new suite of insurance coverages and risk management services for the temporary staffing industry. Products and insurance and risk management solutions can be tailored to the specific risk profiles of temporary staffing firms of all sizes. The National Association of Temporary and Staffing Services reports that the temporary staffing industry is the third fastest-growing services business in the United States, currently employing more than 2.5 million men and women in virtually every business sector. AIGRM’s Temporary Staffing program offers comprehensive coverages that address standard and specialty risks, including primary casualty, workers’ compensation, general liability, automobile liability, fidelity, employment practices liability, fiduciary and professional liability. Further, loss control and safety programs aimed at improving interview and background check processes, screening clients, and developing training programs that assist employees in recognizing and avoiding workplace hazards are available. AIGRM’s claims experts offer: expertise in financial investigations to identify fraudulent claims; training for clients’ risk managers to help them recognize common fraud indicators; onsite visits where losses occur; implementation of medical cost containment policies; and assistance with setting up and funding return-to-work programs.
Dollars: Statutory limits, deductibles start at $100,000, and minimum premiums vary by program type.
Carrier: AIG rated “A++,” admitted.
States Available: All.
Contact: Bradley Smith (617) 457-2957 or brad.smith2@aig.com.
Employment Practices Liability
Nuts & Bolts: CNA has updated and enhanced its suite of management and professional liability products with the introduction of a stand-alone employment practices liability product. The new coverage, EPL Solutions, is targeted to publicly traded commercial companies, financial institutions and financial service organizations. In addition, EPL Solutions includes expanded definitions and enhanced coverages that address the changing employment world. CNA’s EPL Solutions offers limits up to $15 million.
Dollars: No minimums. Deductibles and premiums depend on the risk profile.
Carrier: CNA Insurance, rated “A” by A.M. Best, admitted or surplus lines basis.
States Available: All.
Contact: Ryan Cytryn, (212) 440-2562 or Dan Fellerman, (732) 398-4378.