New Markets

Accident Site and Public Response
Nuts & Bolts: AIG Specialty Excess, an umbrella and excess casualty underwriting unit of the AIG Companies, announced the addition of 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.

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 at 212-458-2696 or lea.spacek@aig.com.

Nuclear-Chemo-BioTerrorism, Reinsurance Product
Nuts & Bolts: Catlin Insurance Company Ltd. (Catlin Bermuda), a subsidiary of Catlin Group Limited, has developed an insurance and reinsurance product that provides affordable coverage for acts of nuclear, chemical, biological or radiological (NCBR) terrorism. Insurers have, historically, been reluctant to provide coverage for NCBR events partly due to the unacceptable accumulation of risk posed by these types of events. Catlin Bermuda has developed a product which overcomes this problem by restricting the coverage to NCBR events which occur in a specified geographic area that is pre-defined by the insured or cedant. The Catlin Bermuda NCBR coverage can be provided on an insurance or reinsurance basis and can cover most underlying forms of insurance (e.g. workers’ compensation, property damage, business interruption etc.). The Catlin coverage can be used to supplement individual countries’ national terrorism insurance frameworks, such as the U.S. Terrorism Risk Insurance Extension Act.

Dollars: Limits vary.
Carrier: Catlin Bermuda, rated “A” by A.M. Best. Non-admitted.
States: Most states, check with Catlin contact.
Contact: James Burcke, Catlin Group Limited, London, at +44(0)20 7458-5710 or e-mail james.burcke@catlin.com.

Real Estate Agents and Brokers E&O Program
Nuts & Bolts: London American Professional Liability LLC, a program administrator and MGA, introduces a new program for real estate agents and brokers errors and omissions. The program is being offered in most states and is underwritten by an “A” (Excellent) A.M. Best rated insurance carrier. This professional liability program is designed to protect real estate firms and associated real estate industry professionals with revenues up to $250 million.

Dollars: Up to $5,000,000 each claim/$5,000,000 annual aggregate limit.
Carrier: American Safety, rated “A” by A.M. Best. Non-admitted.
States: All except Ariz., Calif., Conn., Mass., N.H., R.I., Maine, Vt., Iowa, Del., and Okla.
Contact: Ed Velasquez, president, London American Professional Liability at 201-944-7000 or e-mail evelasquez@londonamericantx.com.

Real Estate Appraiser
Nuts & Bolts: San Diego-based AMIS, Alliance Marketing and Insurance Services, has announced it is offering broader package policies for real estate appraisers handling residential and commercial property. This policy is underwritten by an “A-” VII surplus line Insurer and is available in 48 states. It has commercial general liability coupled with errors and omissions and is written on occurrence forms. The policy’s professional liability coverage is designed to meet the needs of today’s real estate appraisers. Miscellaneous property coverage is available as part of this package. AMIS identifies itself as a major insurance provider to niche markets such as private investigators, insurance adjusters, security guards, armored cars, alarm companies, fire suppression contractors and more.

Dollars: Up to $5 million.
Carrier: Rated “A-” VII by A.M. Best. Non-admitted.
States: All except Wyoming and Delaware.
Contact: Bill West, managing partner, AMIS at 800-843-8550 or e-mail bwest@amiscorp.com.

Property Coverage, Insurance Adjusters, Investigators
Nuts & Bolts: AMIS is offering miscellaneous property coverage for their private investigators and insurance adjusters with limits $50,000 per occurrence for $350 annually, or $100,000 per occurrence for $500 annually. The coverage has a $500 deductible, and is limited to $10,000 for any one item. This coverage is available as part of the general liability and errors and omissions package. It is underwritten by an “A-” VII insurer and is available in 48 states. AMIS identifies itself as a major insurance provider to niche markets such as private investigators, insurance adjusters, security guards, armored cars, alarm companies, fire suppression contractors, glaziers, charter schools, churches, and other non-profit organizations throughout the U. S.

Dollars: $50,000 up to $100,000.
Carrier: Rated “A-” VII by A.M. Best. Non-admitted.
States: All except Wyo. and Del.
Contact: Bill West, managing partner, AMIS at 800-843-8550 or e-mail bwest@amiscorp.com.

Employment Practices Liability
Nuts & Bolts: Executive Perils Inc. is offering an employment practices liabilty product for up to 250 employees. Third party coverage is available. Punitive damages is available. Defense costs outside the limit and by lateral discovery available.

Dollars: Up to $15 million.
Carrier: Rated “A+” by A.M. Best. Admitted and non-admitted.
States: All.
Contact: Info at eperils.com or call 310-444-9333.

Apartment Property Program
Nuts & Bolts: Houston-based London American Risk Specialists Inc. has announced the immediate launch of an Apartment Property Program endorsed by the National Apartment Association. This program is available in the Continental U. S. Highlights of the program include: competitive rates on apartments built in 1975 and later; $10,000 minimum premium; and quotes within 72 business hours. All apartments, condominiums and townhouses are elgible except those: built prior to 1975; with aluminum wiring, wood shingle roofs or siding; with subsidized or student occupancy greater than 10 percent; with total occupancy less than 70 percent; and over four stories.

Dollars: $20 million per location capacity.
Carrier: Rated “A” XV by A.M. Best Company. Non-admitted.
States: All except Alaska and Hawaii.
Contact: Steve Ulrich, apartment program manager at 713-977-7726, ext. 247. or e-mail sulrich@londonamericantx.com.

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Topics AM Best London AIG