Printers’ Errors & Omissions
Nuts & Bolts: The Hartford’s new printers’ errors and omissions coverage form pays the insured’s legal liability for an economic loss resulting from a negligent act, error or omission in connection with printing services performed by the insured. Printing services errors are usually found in copy (words, pictures), printing (color, placement), assembly and distribution of material. The basic E&O policy covers: cost to recover work containing errors; cost to correct the work of subcontractors; the cost incurred to withdraw or inspect work because of known or suspected; deficiencies in the work; and The cost of postage paid, where the postage was properly applied. Also offered is “correction of work” coverage, which pays for the cost to correct the insured’s errors.
Dollars: Limits, $1 million primary/ umbrella available up to $25 million. Deductible is $1,000/$2,500/$5,000/$10,000.
Carrier: The Hartford.
States: All.
Contact: Allan Sague, (860) 547-6582 or www.hfpinsurance.com.
Excess Auto Liability
Floater Coverage for Excess and Surplus Property Facility
Nuts & Bolts: NAS Insurance Services Inc., Encino, Calif., has a new floater coverage program as part of its E&S property facility.
Dollars: The program (Equipment Floater – Fine Arts – Transit) features a $100,000 sublimit, minimum premium of $100 and a minimum deductible of $2,500. Perils include basic, broad and special forms. Commission is 16 percent.
The floater coverage also features an installation program. There is a maximum limit of $500,000 (sublimit), minimum premium is $100 and minimum deductible is $2,500. Perils include basic, broad and special forms. Commission is 16 percent. This coverage is only written along with fixed property coverage and is not available as a stand-alone cover.
Carrier: NAS Insurance Services is an underwriting manager and Lloyds correspondent.
Contact: 16501 Ventura Blvd., Suite 200, Encino, CA 91436. Phone: (818) 382-2030. Fax: (818) 382-2040. Web site: www.nasinsurance.com. Jeannie Davila, assistant vice president, can be contacted by phone at (818) 808-4471 or by e-mail at jdavila@nasinsurance.com.
Vacant Land and Vacant Buildings
Nuts & Bolts: Abram Interstate Insurance Services Inc. in Rocklin, Calif., is offering a new program providing coverage for vacant or unoccupied commercial land and buildings and residential properties. Coverage is on a package or monoline basis. Package coverage includes general liability, inland marine, crime and property. The company will write a three-month, six-month, nine-month or annual policy. Basic form policy for buildings 60 years or less. Protection class 1-10 OK.
Dollars: Minimum premiums are $500 to $1,000, plus any applicable fees. The minimum deductible is $500. The coverage is being provided by a non-admitted carrier, rated “A-,” VIII.
Contact: Kathy Henderson or Stephen Donahue at (916) 780-7000. Or e-mail kathleenh@abraminterstate.com or stephend@abraminterstate.com. Web site: www.AbramInterstate.com.
Employment Practices Liability
Nuts & Bolts: Rockwood Programs has announced changes to its existing employment practices liability insurance policy. The enhanced coverage form is available in all jurisdictions, with the exception of California. Among the changes implemented: inclusion of legal expense coverage for wage and hour claims, subject to a sub-limit; removal of failure to comply, major stockholder, and dishonest acts exclusions; addition of a “soft hammer” provision with a 50/50 insured/insurer split; expanded definition of “employee” expanded to include independent contractors and leased employees under the direction of the insured; defense cost outside of and equal to the limits of liability, with certain restrictions.
Dollars: Minimum premiums start at $1,250. There is a range of liability limit and retention options available. Policyholders are given exclusive access to loss control tools available via the Internet. The on-line service provides step-by-step human resources procedures, recommended policies, training programs, and employee handbook templates.
Carrier: Avemco Insurance Co. (AIC), an affiliate of HCC Holdings, Inc. All companies are rated “A” or better by A.M. Best.
States: All, except Alaska, California and Washington.
Contact: Thomas Caputo, (800) 588-8808, www.rockwoodinsurance.com
Broker Errors & Omissions
Nuts & Bolts: E.L.M Insurance Brokers, El Segundo, Calif., has a new admitted professional liability program for insurance brokers’ errors and omissions. The coverage is comprehensive and written on a claims-made and reported policy form. Eligible classes include agents, brokers, wholesalers, managing general agentss, with coverage for predecessor firms, independent contractors and personal injury. Firms that are also engaged in real estate services can be endorsed for that, also. The application is available oline. Wholesalers and managing general agents need to include a supplemental application.
Dollars: Limits of liability are on a per claim/aggregate and range from $100,000/$200,000 up to $1 million/$3 million. Program offers choice of deductible ranging from $1,000 to $100,000.
Carrier: PACO Assurance Co. has an “A-” V rating from A.M. Best. E.L.M. Insurance Brokers is semi-exclusive in California and will be exclusive in many of the Western states.
States: California and several other states; eventually l9 Western states.
Contact:Fred Fisher at E.L.M. Insurance Brokers Inc. (310) 322-1301; Fax: (310) 322-1302. E-mail: ffisher@e-o.com.
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