Security Risks
Nuts & Bolts: AI Risk, Lexington Insurance’s Middle Market Unit, has selected Brownyard Programs Ltd. to bring AIG’s GuardSecure product to small- and intermediate-sized private security companies throughout the United States. The program’s focus will include a range of private security businesses, including security guards; private investigators/investigative firms; background screening firms; security consultants; armored car companies; alarm installation and monitoring companies; and ATM servicing companies. Another offering to the program is an automatic accidental death and dismemberment benefit.
Dollars: Limits available up to $5 million.
Carrier: Lexington Insurance Co.
States: All.
Contact: Bruce Brownyard, info@brownyardprograms.com. Web site: www. AIRisk.com.
Basic Health
Nuts & Bolts: Markel Basic Health offers group, limited medical insurance, designed for working Americans who do not have health insurance. While it is not intended to replace major medical, it provides a level of benefits for those without coverage at an affordable rate for both the employee and employer. Designed for employers who have classes of employees without major medical insurance, including those that employ hourly, part-time, seasonal or temporary workers, such as restaurants, construction companies, schools, child care facilities, summer camps, nursing homes, landscapers and retailers.
Dollars: Vary. Limits: a scheduled benefit, indemnity plan design. Premium: composite rates with 50 percent or more employer contribution. Otherwise, has age-banded rates.
Carrier: Rated “A” by A.M. Best. Admitted.
States: Ala., Ark., Ariz., Colo., Del., Fla., Ga., Hawaii, Ill., Ind., Iowa, Ky., Md., Mass., Miss., Mo., Mont., Neb., Nev., N.M., N.C., N.D., Okla., Ore., Pa., R.I., S.C., S.D., Tenn., Texas, Va., D.C., W.Va., Wis., Wyo.
Contact: David Higgs, 800-431-1270, ext. 7997, dhiggs@markelcorp.com.
Professional Liability Program
Nuts & Bolts: London American has a professional liability program for a diverse set of professions, including many types of consultants, insurance services, media and real estate classes. Coverage is offered on both a primary and excess basis for risks with up to $250 million in revenue. Policy highlights include: primary and excess coverage available; claims made and reported policy; company has right and duty to defend; coverage is extended to employees while acting within the scope of their employment duties; personal injury coverage; “prior acts coverage provided for insureds who have carried continuous coverage, predecessor and successor firm coverage; automatic 60-day extended reporting period; and worldwide coverage for suits brought in the United States.
Limits: Up to $5 million for each claim; $5 million annual aggregate limit. Deductible is $5,000. Minimum premium is $5,000.
Carrier: Rated “A” by A.M. Best. Non-admitted.
States: Ala., Ark., Ariz., Calif., Colo., Fla., Ga., Hawaii, Idaho, Ill., Ind., Kan., Ky., La., Md., Mich., Minn., Miss., Mo., Mont., Neb., Nev., N.J., N.M., N.Y., N.C., N.D., Ohio, Ore., Pa., S.C., S.D., Tenn., Texas, Utah, Va., Wash., D.C., W.Va. , Wis., and Wyo.
Contact: Ed Velasquez, 201-944-7000, evelasquez@londonamericantx.com.
Travel Professionals
Nuts & Bolts: Liberty International Underwriters (LIU), a division of Liberty Mutual Group, and Travel Professionals Insurance Network (TPIN), a service of MPP Co. Inc., have partnered to offer a new Travel Professionals E&O insurance product, which is available in 31 states and the District of Columbia. Travel professionals face a complex array of exposures whether they specialize in corporate or leisure travel, are large tour operators or small, retail agencies. The program’s policy forms were developed by a team of travel industry insurance and professional liability specialists.
Limits: Minimum premium is $350 for $1 million.
Carrier: Rated “A” XV by A.M. Best. Admitted and non-admitted.
States: Ala., Ariz., Ark., Colo., Conn., Del., D.C., Hawaii, Idaho, Ill., Ind., Iowa, Ky., Maine, Md., Mich., Minn., Mo., Mont., Nev., N.H., N.J., N.D., Okla., Ohio, Ore., Pa., S.D., Tenn., Texas, Utah, W.Va., and Wis.
Contact: Alice Ergovich, 913-564-0866, www.travelproins.com.
E&O Coverage for New Property/Casualty Agents
Nuts & Bolts: Rockwood Programs has recently partnered with certain underwriters at Lloyd’s of London to offer professional liability coverage for property/casualty agents licensed less than three years. Factors that determine eligibility include years of experience, annual commission revenues, risk location and types of products placed. As a prerequisite of coverage, new policyholders must agree to access and review the risk management tools available on the Web site. Once an agent has three years of experience, he or she becomes eligible for Rockwood’s standard program.
Limits: $1 million/$1 million; $5,000 deductible. Premiums start at $3,100.
Carrier: Lloyd’s of London. Admitted and non-admitted.
States: All, except Ala., Alaska, Ariz., Calif., Fla., Hawaii, La., Mass., Miss., Nev., N.J., Texas, Wash., and W.Va.
Contact: Darryl McCallin, 302-765-6018, darryl.mccallin@rockwoodinsurance.com.
Third Party Harassment
and Discrimination Product
Nuts & Bolts: Monoline third-party harassment and discrimination coverage by Quadrant Insurance Managers covers businesses for discrimination, harassment and wrongful eviction committed by an employee against a customer and/or member of the public. Small to mid-size businesses with high public/customer interaction like hospitality, banking, restaurant, retail, higher education and health care are some of the targeted industries.
Dollars: $1 million aggregate. Minimum premium, $5,000.
States: Available in most states.
Carrier: Rated “A” by A.M. Best.
Contact: Doug Ruml, 614-841-1425, druml@quadrant-us.com.
Workers’ Comp: Middle Market,
Loss-Sensitive Plan
Nuts & Bolts: Workers’ comp for middle market and loss-sensitive plans, with broad risk appetite, is being offered by PointSure Insurance Services. Premiums are in excess of $130,000 with guaranteed cost and loss-sensitive plans. Experience modification factors are 0.80 or higher. Underwriters will look at 80 percent of all class codes.
Dollars: Limits are $1 million and up.
Carrier: Rated “A” XV by A. M. Best.
States: All.
Contact: Lisa Gardiner 206-269-8616, lisa.gardiner@pointsure.com.
Subclasses of Small Business Division
Nuts & Bolts: Zurich is expanding the number of subclasses of businesses its small business division will underwrite to provide more diversified market opportunities for agents doing business with the company. An additional 188 subclasses are eligible under Zurich’s core retail, office and service segments for insurance programs that include auto, umbrella and, for many classes, workers’ compensation.
Dollars: Up to $15 million.
States: All, except Hawaii.
Carrier: Rated by “A” by A.M. Best. Admitted.
Contact: A local state agent, 800-800-3907.
Retail Shopping Centers
Nuts & Bolts: Argonaut Group Inc.’s Select Markets segment is expanding its products to include the retail shopping center marketplace. Highlights include specialized benefits such as coordinated policies for comprehensive landlord-tenant liability coverage, signage protection based on actual loss sustained, a 24-hour emergency claims hotline, and access to more than 15 proprietary safety and loss prevention resources tailored to the retail industry. Claims will be handled by retail specialists familiar with each jurisdiction served.
Limits: General liability limits are $1 million; property limits are $20 million in total insured value, flexibility on case by case basis.
Carrier: Rated “A-” by A.M. Best. Admitted.
States: All, except Alaska, Florida, Hawaii, Louisiana, Mississippi and New York.
Contact: David Edison, 503-833-1696, www.argonautgroup.com.
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