New Markets

New Markets

Nuts & Bolts: AIG Excess Casualty, a division of American Home Assurance Company, part of American International Group Inc., introduced xsInResponse, a new product that provides excess liability coverage for risks previously covered by an insurance carrier that is now insolvent. Available as an endorsement to AIG Excess Casualty’s commercial umbrella liability policy, Umbrella Prime, xsInResponse allows policyholders to reduce insolvency-related vulnerabilities in excess liability insurance programs dating back to 15 years. xsInResponse coverage is claims-made coverage that responds to incurred but not reported claims. UmbrellaPrime, available with up to $50 million in limits, also includes crisis management funds, access to professional expertise and immediate, 24/7 access to specialists who can help companies manage a crisis.

Dollars: The endorsement to commercial umbrella has $50 million in available limits, $1 million trailing SIR, and no minimum premium.

Carrier: Underwritten through AIG Excess Casualty, nonadmitted.

Contact: Richard Tallo, (212) 458-6104 or richard.tallo@aig.com.

Employment Practices Liability

Nuts & Bolts: CNA 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 targets publicly traded commercial companies, financial institutions and financial service organizations. It includes expanded definitions and enhanced coverages that address the changing employment world. CNA’s EPL Solutions offers limits up to $15 million, and is a part of the coverages that are offered to clients through its distribution network.

Dollars: Limits go up to $15 million. Deductibles/premiums dependonrisk profile.

Carrier: CNA Insurance, rated “A” by A.M. Best, admitted.

States Available: All.

Contact: Ryan Cytryn, (212) 440-2562 or Dan Fellerman, (732) 398-4378.

Contractor’s Pollution Liability and Consultants Professional Liability

Nuts & Bolts: Burns & Wilcox launched a new environmental program with ACE Westchester Specialty Group Environmental for environmental contractors and consultants. Westchester Specialty Group will provide coverage on an excess and surplus lines basis through Westchester Surplus Lines Insurance Company and Illinois Union Insurance Company, part of the ACE Group of Companies.

The program targets small environmental and non-environmental contractors, as well as environmental consultants with annual revenues up to $2.5 million. Contractors may be eligible for stand-alone contractors’ pollution liability. Environmental contractors and consultants who qualify may also be eligible for supporting lines of coverage including general and professional liability.

Burns & Wilcox will market, rate, quote, bind and issue the policies and will handle policy servicing and include in-house claims handling. ACE Westchester Specialty’s Environmental Div. offers contractors pollution liability/premises pollution liability.

Dollars: Available limits of liability will range from $500,000/$500,000 to $2 million/$2 million (per occurrence and in the aggregate). Minimum annual premium for the program is $2,500.

Carrier: ACE Westchester Specialty Group, rated “A+” by A.M. Best.

States Available: All.

Contact: Ken Schneider, (248) 932-9000 or kaschneider@burns-wilcox.com.

Identity Recovery Coverage Personal Lines

Nuts & Bolts: Merchants Insurance Group introduced their newly expanded Identity Recovery Coverage program for homeowners’ policyholders. The new coverage was designed to help victims of identity theft clear their credit history and repair their identity records and is available in Massachusetts, New Jersey, Ohio, New Hampshire, Pennsylvania and Rhode Island. Coverage will be expanded to other states in the near future. The endorsement provides $15,000 of expense reimbursement coverage, includes important customer concierge services, a dedicated recovery help line and personal case management. Confirmed identity theft victims insured with this product are assigned to an experienced identity recovery case manager.

Dollars: The endorsement provides $15,000 of expense reimbursement coverage.

Carrier: Merchants Mutual Insurance Co. and Merchants Insurance Co. of New Hampshire Inc., two separate companies of Merchants Insurance Group. Both are rated “A-” by A.M. Best, admitted.

States Available: Massachusetts, New Jersey, Ohio, New Hampshire, Penn. and RI.

Contact: Paul Saccomando, (800) 462-1077, ext. 3070.

Topics Chubb AIG New Hampshire