My New Markets

Wedding Insurance
Nuts & Bolts: Travelers recently announced the launch of the Wedding Protector Plan, which provides coverage, with no deductible, for a variety of unfortunate occurrences associated with a wedding event. For example, coverage is provided if a hurricane causes the cancellation or postponement of the event. Other coverages include postponement for withdrawal of military leave, forfeited and lost deposits, extra expenses associated with special attire, transportation, photographs, and entertainment expenses. The top wedding claims and problems typically include damage to wedding attire, mishaps with event photography, cancellation due to illness or bereavement, and no-shows by contracted vendors. Travelers created www.AgentProtectMyWedding.com, which offers a Risk Quiz to help consumers determine how much risk surrounds their wedding, plus examples of coverages provided. Consumers can then use the online agent locator to find a nearby Travelers independent agent to discuss purchasing protection. As long as the wedding is more than 14 days away … it’s not too late.

Dollars: Up to $261,000 core coverage/$1 million liability/$1 million for physical damage.
Carrier: The Travelers Cos. Rated “A+” by A. M. Best. Admitted.
States: All, except Hawaii, La., Alaska, Fla., Mass., Wash. and Calif. Events will be covered in Puerto Rico, Canada, United Kingdom, Mexico, Bermuda, Bahamas, Turks and Caicos, and Caribbean Islands (excluding Cuba and Haiti) and cruise ships leaving from a port within those territories (some restrictions apply).
Contact: Alan Tuvin at 860-954-1710 or e-mail atuvin@travelers.com.

Diagnostic Radiology Facilities
Nuts & Bolts: A.I. Risk Specialists Insurance, Inc. (AI Risk), a member company of American International Group Inc. (AIG), introduced AI Risk Radiology Solutions, a portfolio of property and casualty insurance coverages written for diagnostic radiology facilities. These coverages will be underwritten by the AIG Healthcare Department of AI Risk. Radiology Solutions will offer a selection of customized insurance policies for the distinct needs of diagnostic radiology providers, which include, but are not limited to: property insurance, which can be extended to include equipment breakdown insurance. Equipment breakdown insurance is underwritten by Hartford Steam Boiler and gives policyholders access to the loss control and consulting services of HSB Professional Loss Control, which concentrates on helping businesses to address the complex issues associated with equipment breakdown and to minimize related losses. Other coverages are individual, primary general and professional liability insurance limits and workers’ compensation insurance underwritten on a guaranteed cost basis. Radiology Solutions also offers its insureds additional risk management services including consultations services to assess exposures, address compliance issues, and avoid claims. No catastrophe coverage.

Dollars: Professional general liability, $1 million per occurrence/ $3 million aggregate.
Carrier: Lexington Insurance Co. and Hartford Steam Boiler rated “A+” and “A++” respectively by A. M. Best. Non-admitted.
States: All.
Contact: Dan McGinnis at 212-770-1172 or e-mail Daniel.mcginnis@aig.com.

Accountants Professional Liability
Nuts & Bolts: The Herbert H. Landy Agency is offering professional liability insurance for small to large, simple to complex practices. The Accountants Basic Coverage provides an economical alternative for tax preparers, bookkeepers and small accounting firms. The CPA Advantage provides coverage for larger firms, and more complex practices. Coverage is provided by an A++ rated carrier and The Landy Agency serves as the national administrator for the programs.

Dollars: Up to $5 million.
Carrier: General Star rated “A++” by A. M. Best. Admitted.
States: All.
Contact: John Torvi at 781-292-5417 or e-mail johnt@landy.com.

Yachts
Nuts & Bolts: American Reliable Insurance Co. is now providing nationwide coverage for yachts with values up to $1 million. Coverage includes watercraft – liability and physical damage. Deductible is $500; Minimum premium is $300.

Dollars: $100,000 to $1 million.
Carrier: American Reliable Insurance Co., rated “A-” by A. M. Best. Admitted.
States: All, except Alaska, Hawaii, Louisiana and District of Columbia.
Contact: Roger Vossen, at 651-361-4016 or e-mail roger.vossen@assurant.com.