New Markets

Coastal Property — Texas
Nuts & Bolts: Western Security Surplus has increased capacity to write coastal property coverage in Texas, including wind and hail, Tier 1 and 2 counties. The property coverage is offered via a non-admitted “A” rated market with an appetite for coastal property in Texas. Coverage highlights include Standard Commercial ISO Coverage forms including wind and hail coverage. WSS has in-house quoting and binding authority up to $1,500,000 TIV ($1,000,000 for frame structures). Capacity is available in all Texas Tier 1 and 2 counties with the exception of Galveston and Jackson Counties. Eligible risks include but are not limited to: apartments, churches, condominiums, hotels/motels, lessor’s risks, restaurants/taverns/bars, retail/mercantile, vacant buildings and more.

Dollars: Minimum premium starts at $1,000 and deduct-ibles start at $5,000 or 5 percent per occurrence (which-ever is more) for wind and hail coverage and $1,000 per occurrence for all other perils.
Carrier: “A” rated, non-admitted.
State: Texas.
Contact: Interested agents and brokers are invited to visit the Web site at www.wssib.com.

Employed Lawyers Protection
Nuts & Bolts: Philadelphia Insurance Cos. launched Employed Lawyers Protection Plus, a product that protects attorneys working as in-house counsel, their support staff and eligible independent contractors from claims arising out of their work in providing legal services to the insured, including moonlighting and pro bono services. Protection is provided to the in-house attorney including matters where indemnification by the employer is not permitted or withheld. Claims alleging malpractice against the in-house attorney, which are excluded under many directors and officers policies are covered and may be brought by third parties as well as their employer and shareholders. Acceptable classes include most types of privately held and non-profit organizations, as well as publicly traded companies with less than $1 billion in market capitalization. Other underwriting criteria and restrictions apply.

Dollars: Up to $10 million available.
Carrier: Philadelphia Insurance Companies, rated “A+” by A. M. Best. Admitted.
States: All except in Louisiana. Available on admitted paper in 45 states. Check with company for more information.
Contact: James Sheldon, 610-538-2138 or e-mail, jsheldon@phlyins.com.

Monoline Auto Classes, Small Businesses
Nuts & Bolts: Zurich’s small business agents now have more than 500 monoline auto classes to sell. The company opened an additional 257 existing America Premier classes for monoline auto and added 238 new primary monoline-only classes. The new monoline-only classes consist of service, wholesale, office, manufacturing and trade market segments. Combined with Zurich’s 40 existing construction classes, more than 500 monoline primary auto classes and nearly 1,300 subclasses are now available for small commercial auto agents. Zurich is also expanding underwriting guidelines for heavy and extra-heavy trucks, from the current 20 percent of all vehicles to 50 percent (maximum of 10 vehicles per policy with heavy and extra heavy).

Dollars: Primary auto, $1 million; umbrella, up to $10 million.
Carrier: Rated “A” by A.M. Best. Admitted or non-admitted.
States: Ala., Ariz., Calif., Colo., Conn., D.C., Fla., Ga., Idaho, Ill., Ind., Kan., Ken., La., Maine, Md., Mich., Minn., Mo., Miss., Mont., N.C., Neb., N.D., N.H., N.J., Nev., Ohio, Okla., Ore., Penn., R.I., S.C., S.D., Tenn., Utah, Va., Vt., Wash., Wis., W.Va. (Delaware and Arkansas available by year’s end.)
Contact: Gerald Chiddick, 410-261-2247 or e-mail Gerald.chiddick@zurichna.com.

Retail Furniture Stores
Nuts & Bolts: San Antonio, Texas-based Argonaut Group’s Select Markets segment launched a new program for the retail furniture store marketplace. Highlights of the Retail Furniture Store Insurance Program include property coverage with optional deductible levels and business income coverage valued at actual loss sustained. Optional additions include a Retail Furniture Advantage endorsement that offers several broad property coverages on one convenient form. The program also offers workers’ compensation guaranteed cost plans, general liability, earthquake and computer coverage. Preferred clients for this program include stores with excellent property maintenance, strong financial indicators, and willingness to implement loss prevention recommendations.

Dollars: Up to $1 million per occurrence/$5 million aggregate.
Carrier: Rated “A” by A. M. Best. Admitted.
States: All except Alaska, Fla., Hawaii, La. and Miss.
Contact: David Edison, 503-833-1696 or e-mail, dedison@argonautgroup.com.

Accident Site and Public Response
Nuts & Bolts: AIG Specialty Excess, an umbrella and excess casualty underwriting unit of the AIG Companies, added Accident Site Advisor and PublicResponse to its excess liability insurance. The built-in enhancements, catering specifically to construction and public entity classes of business, will give policyholders immediate access to the funds and professional support needed to respond to a serious casualty crisis at no additional cost. AIG Specialty Excess has designed Accident Site Advisor for the construction industry and PublicResponse for public entities, to help policy holders in these particularly high-risk sectors quickly address a major casualty crisis and minimize damages to their finances and reputation. In the event of a significant accident or crisis, a 24-hour toll-free hotline provides access to the expert crisis management support of AIG Companies’ claims specialists and response service is activated. Accident Site Advisor and PublicResponse advance up to $250,000 of the policy limit to immediately defray the costs of covered damages following a crisis situation. The value-add enhancements also provide a separate limit of $50,000 for the fees of a public relations or crisis management firm to help execute a strategic public response and protect the business reputation of the insured.

Dollars: Up to $20 million; varies per risk.
Carrier: Multi-carriers, AIG rated “A+” by A.M. Best. Admitted or non-admitted.
States: All.
Contact: Lea Spacek, 212-458-2696 or lea.spacek@aig.com.

Topics Texas AM Best AIG