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 typically include damage to wedding attire, mishaps with photography, cancellation due to illness or bereavement, and no-shows by vendors. Travelers’ www.AgentProtectMyWedding.com offers a Risk Quiz to help consumers determine how much risk surrounds their wedding and learn about coverages. It also has an agency locator.
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 for diagnostic radiology facilities. These specialized coverages will be underwritten by the AIG Healthcare Department of AI Risk.
Coverages 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. 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.
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.
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