New Markets

Terrorism Insurance
Nuts & Bolts: Hiscox USA is now providing terrorism insurance in the U.S., from the U.S. The coverage is being offered to brokers through Hiscox USA’s Armonk, New York headquarters. Hiscox USA, a new operation for European specialist insurer Hiscox, opened for business in March 2006 and is focused on rolling out Hiscox’s specialist products for small and mid-size U.S. businesses.

Dollars: Up to $50 million.
Carrier: Hiscox USA, rated “A” by A.M. Best. Non-admitted.
States: All.
Contact: Alex Heywood, vice president, terrorism insurance, Hiscox USA at 914-273-7424 or e-mail alex.heywood@hiscox.com.

Real Estate Professional Liability
Nuts & Bolts: Victor O. Schinnerer & Co., announced two upgrades to its real estate errors and omissions policy endorsements. These upgrades are to its discrimination endorsement and to its environmental hazards endorsement. Both enhancements are included in the standard policy. The discrimination endorsement will automatically include a sub-limit of up to $100,000. This is an increase from $25,000 in most states, for no additional premium. The environmental hazards endorsement will be automatically included up to policy limits at no additional charge. A 10 percent additional premium was charged previously. Schinnerer is in the process of filing the updates in all states. Approximately one-half of the states will reflect these enhancements as of Oct. 1, 2006. The upgrades, will be posted on its Web site at www.PlanetRealtyChoice.com. Dollars: Up to $1 million.
Carrier: CNA, rated “A” XV by A.M. Best. Admitted.
States: All, however check Web site for availability and enhancement.
Contact: Catherine Williams, vice president, at 301-961-9843 or go to vos.realestate@schinnerer.com.

International D&O Liability
Nuts & Bolts: The AIG Companies introduced AIG Passport, an enhanced service process for corporate clients purchasing locally admitted directors and officers’ liability insurance to cover their international operations and subsidiaries. AIG Passport provides customers with a letter that details terms and conditions of the base D&O policy and one or more locally admitted policies, written in the local language and compliant with specific local laws and regulations. AIG Passport is available for international operations and subsidiaries in more than 75 countries and jurisdictions.

Dollars: Limits up to $50 million; each account underwritten according to its unique risk profile. Premium dollars are allocated appropriately depending on how many and which countries are selected for the program.
Carrier: AIG Companies, varies by country and jurisdiction. Admitted and non-admitted.
States: All
Contact: Stephen Whelan at 212-458-2526 or stephen.whelan@aig.com.

Utility District Program
Nuts & Bolts: London American Risk Specialist Inc. is offering a utility district program. This program is designed for populations 75,000 and under and targets: electric distribution, gas distribution, water distribution, sewage/waste water systems, and electric generating plants or any combination of these utilty services.

Dollars: $1 million (occurrence) to $ 2 million (aggregate).
Carrier: Rated “A+” XV by A.M. Best. Admitted.
States: Ala., Ark., Fla., Ga., Ill., Ind., Ken., La., Mich., Mo., Miss., N.C., S.C., Ohio, Tenn., Texas and Va.
Contact: Larry Vickery, 800-448-7188, ext.306 or lvickery@londonamericantx.com or Carol Griffin 800-448-7188, ext.301 cgriffin@londonamericantx.com.

ElderCare Legal Expense
Nuts & Bolts: U.S. Risk Underwriters, a specialty lines underwriting manager and wholesale broker, has introduced an ElderCare Legal Expense Reimbursement policy for long-term care facilities, including skilled care, assisted living and continuing care retirement communities. The policy reimburses for certain legal expenses that may be incurred in defense of a professional or general liability claim caused by a medical incident, event or offense.

Dollars: Limits up to $250,000.
Carrier: Rated “A” by A. M. Best. Non-admitted.
States: All, except Florida, Mississippi and Alaska.

Contact: U.S. Risk Underwriters in Dallas at 800-952-7738, Metro DC at 800-948-5800 or Houston at 800-833-8803.

Identity Theft
Nuts & Bolts: The American Safety Council has teamed with Travelers Casualty and Surety Co. to provide the first stand-alone Identity Theft Insurance policy. The policies, which can be purchased online, offers coverage for individals and families, including spouses and all children living at home.

Dollars: Up to $30,000 for individual and family, $500 per week up to 4 weeks.
Carrier: Rated “A” by A.M. Best. Admitted.
States: Ariz., Calif., Fla., Ill., Ind., Kan., Ky, Md., Mo., Nev., Okla., Penn., Texas, Wash., Wis., (with more states coming soon).
Contact: Brent Gregory, senior vice president, at 407-539-0095 or visit www.IdentityTheftPolicy.com or www.AmericanSafetyCouncil.com