New Markets

Terrorism Insurance
Nuts & Bolts: Hiscox USA, U.S. subsidiary of Hiscox plc, a provider of specialty insurance, is now providing terrorism insurance in the U.S. The coverage will be offered to brokers through Hiscox USA’s Armonk, N.Y., headquarters with a team of underwriters and professionals. 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. Hiscox USA products can be purchased via U.S.-based local and regional brokers. The company has two New York City area operations.

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

Auto Product
Nuts & Bolts: The Hanover Insurance Group Inc., a regional property and casualty company based in Worcester, Mass., is now offering its Connections Auto product in Arkansas, Ohio, Oklahoma and Wisconsin. Connections Auto is part of The Hanover’s personal lines products, which offers coverage for all lines of personal insurance including auto, homeowners and umbrella coverage.

Dollars: Varies by state and coverage.
Carrier: The Hanover Insurance Group and Citizens Insurance Company of America, both rated “A-” by A.M. Best. Admitted.
States: Ark., Conn., Fla., Ill., Ind., La., Ohio, Okla., Maine, Mich., N.H., N.J., N.Y., Tenn., Va., and Wis.
Contact: Sujata Mutalik at 508-855-3457 or e-mail smutalik@hanover.com.

Investment Advisors, Investors
Nuts & Bolts: Investment advisers, mutual funds and hedge funds now have added protection for a variety of risks associated with providing asset management products and services to investors through a policy introduced by St. Paul Travelers. St. Paul Travelers SelectOne for Investment Advisers and Funds helps investment advisers, mutual funds and hedge funds address exposures they might incur through business interactions with investors, employees, shareholders, governmental agencies and pension plan participants. Specifically, the policy provides coverage for the following incidents: failure to adhere to investment guidelines and restrictions; misrepresentations and failure to adequately disclose risks; mismanagement of investments; breach of fiduciary duties to clients or pension plan participants; and, unintentional errors committed in the course of performing regular investment adviser duties.

Dollars: Up to $25 million in the aggregate.
Carrier: Travelers, rated “A” by A.M. Best. Admitted.
States: All.
Contact: Steve Boughal at 917-778-6149 or e-mail sboughal@travelers.com.

Medical Malpractice, Long-Term Care Medical Directors
Nuts & Bolts: U.S. Risk Underwriters, a specialty lines underwriting manager and wholesale broker, announced that it has introduced a new medical malpractice insurance product for physicians practicing as medical directors in long-term care facilities, including skilled care, assisted living and continuing care retirement communities. (CCRCs). The policy includes a condition that requires long-term care facilities to cover the medical director’s administrative duties and carry equal professional insurance limits or policy limits become lower ($100,000/$300,000).

Dollars: Up to $1 million/$3 million; standard deductible of $5,000
Carrier: Rated “A-” by A.M. Best. Admitted.
States: California, Ohio and Texas.
Contact: Linda Morse, 281-249-4934 or lindam@usrisk.com.

Millwright Contractors
Nuts & Bolts: Millwright contractors now have access to a single source for their insurance and risk management needs with an offering introduced by Travelers. Products available for millwright contractors include workers’ compensation, commercial general liability, automobile liability and physical damage, property, inland marine, umbrella and surety. Traveler’s staff devoted to contractors includes underwriters, risk control representatives and claim handlers. All are specialists in the construction industry. Some examples of services that millwright contractors would find valuable include: TravComp workers’ compensation claims management; subrogation and contractual risk transfer expertise; 40-hour professional crane operator program; rigging and forklift training; and, network of fleet specialists.

Dollars: Up to $1 million; higher limits available.
Carrier: Travelers, rated by “A+” by A. M. Best. Admitted.
States: All.
Contact: Janice Diluciano, 860-277-1295 or e-mail JDILUCI2@travelers.com.

Real Estate Professional Liability Policy Endorsements
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. These upgrades make the policy more comprehensive, providing better protection to real estate firms. 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. As states approve the upgrades, they will be posted online 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,

301-961-9843 or e-mail: vos.realestate@schinnerer.com.