New Markets

Universal ExcessNuts & Bolts: The Hartford Financial Services Group Inc. introduced Universal Excess, a new excess insurance policy that fits firmly over directors and officers, fiduciary, employment practice, miscellaneous professional and tech errors and omissions products issued by any insurer. Universal Excess is a policy form designed for public and private organizations of all sizes. It follows the primary policy in such key areas as exclusions, definitions and severability clauses and is said to allow the underlying limits to be paid by the insured if the primary insurer becomes financially insolvent. Coverage includes directors and officers, employment practice liability, errors and omissions, and fiduciary coverage. As an excess policy, the coverage follows the primary policies. Limits go to $25 million depending on the type and size of business, and whether it’s public or privately owned.
Dollars: Varies, limits up to $25 million
Carrier:
The Hartford Financial Services Group
States: All
Contact:
www.hfpinsurance.com

Residential General Contractors LiabilityNuts & Bolts: Illinois-based Jack Nebel Companies is now offering residential general contractors liability. This market caters to the smaller general contractor with revenues less than $10 million.
Dollars: Limits are $5 million/$5 million.
Carrier: Nautilus Insurance Co
States: Ill., Ind., Mich., Minn., Wis.
Contact: www.jnebel.com

Architects and EngineersNuts & Bolts: St. Paul Travelers has expanded its architects and engineers business to include a variety of construction and design consultants. Previously, only licensed or registered architects and engineers, landscape architects and land surveyors were eligible for coverage. Now, construction and design consultants such as interior designers, urban planners and audio-visual consultants are among the groups eligible.

The products include but are not limited to professional liability, general liability, property, workers’ compensation, monoline auto, umbrella, employment practices liability and directors and officers liability. There are zero deductibles for firms under $250,000 in annual billings. For qualifying firms over $250,000 in billings, there is a deductible option that includes first dollar defense. For larger firms, deductibles are typically .75 percent to 1.5 percent of a firm’s annual billings.
Dollars: Limits are $500,000/$500,000 to $5 million/$5 million
Carrier: St. Paul Travelers, “A+” rated by A.M. Best
States: Ala., Ark., Ariz., Ark., Calif., Colo., Conn., Del., Fla, Ga,, Idaho, Ill., Ind., Iowa, Kan., Kent., Maine, Md., Mass., Mich., Minn, Miss., Mo, Mont., Neb., Nev., N.H., N.J., N.M., N.Y., N.C., N.D., Ohio, Okla., Ore., Pa., R.I., S.C., S.D., Tenn., Texas, Utah, Va., Wash., D.C., W.Va., Wis., Wyo.
Contact: www.spt.com

Collector CarsNuts & Bolts: Aon Collector Car Insurance provides specialty insurance for classic, antique, exotic, street rods, custom/modified and kit cars. The insurance they provide differs from standard auto insurance because every policy contains agreed value coverage, which bases the value of the car on an amount established by the car owner, and agreed to by Aon. Offers specialty coverage at an annual premium lower than a standard auto policy and is flexible to allow occasional general use/unlimited mileage.
Dollars: Up to $1 million limits
Carrier: One Beacon, “A” rated by A.M. Best
States: Ala., Ark., Ariz., Ark., Calif., Colo., Conn., Del., FLa., Ga., Idaho, Ill., Ind., Iowa, Kan., Kent., Maine, Maine, Mich., Minn., Miss., Mo., N.E., N.V., N.H., N.J., N.M., N.D., Ohio, Okla., Ore., Pa., R.I., S.C., S.D., Tenn., Utah, Ver., Wash., D.C., W.Va., Wis., Wyo.
Contact: www.aoncollectorcars.com

Child Care SolutionsNuts & Bolts: A new full service product, “Child Care Solutions,” designed to address the insurance needs of childcare centers countrywide has been introduced by AFC Insurance Inc., a managing general underwriter of social service risks and a subsidiary of Brown & Brown Inc.

AFC Insurance has an agreement with AIG Programs, a division of the Lexington Insurance Co., a member of American International Group Inc. to serve as the marketer and distributor of “Child Care Solutions.”

Critical highlights of this new program include coverage for professional liability claims related to sexual abuse and molestation, professional liability for child care professionals, off-premises coverages for such exposures as field trips and attendance at swimming programs, and tuition reimbursement if civil authorities require a mandatory evacuation. These coverages are supported by industry specialists in loss control and claims handling.
Dollars: Limits from $1 million to $5 million
Carrier: AFC Insurance Company
States: All
Contact: www.afcins.com

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