My New Markets

May 21, 2007

Tow Truck Operators
Nuts & Bolts: Swiss Re’s Commercial Insurance and BISYS launched a program for tow truck operators. Policies are underwritten by Westport Insurance Corp., a Swiss Re company, and are backed by Swiss Re. The program provides specialty underwriting for towing risks. It entertains risks for professional towers, including those with service garages and body shops. Coverage includes commercial auto liability, physical damage, general liability, inland marine and property. The submission process is available at www.

Dollars: Up to $1 million/$2 million aggregate.
Carrier: Westport Insurance Corp., a Swiss Re company, rated “A+” by A.M. Best. Admitted.
States: All, except Alabama, Alaska, Hawaii, Massachusetts and New Jersey.
Contact: Robert Devres at 321-421-6714 or e-mail

Tax Credit, Historic, Commercial Real Estate
Nuts & Bolts: Lexington Insurance Co., a member company of American International Group Inc., has historic rehabilitation tax credit (HRTC) insurance to protect owners and developers of commercial properties qualifying for federal rehabilitation tax credit against a financial loss if, during rehabilitation or after occupancy, the property suffers significant damage from an insured event and such damage results in a reduction in, or recapture of, the tax credit.

Entities that rehabilitate and use historic structures or buildings constructed prior to 1936 for commercial purposes may qualify for federal tax credits under Internal Revenue Code Section 47. Large corporations and other businesses with substantial tax liabilities invest in these properties, typically in a limited partnership arrangement with the property developer, to achieve these tax credits. Financial exposure through the loss or reduction of the tax credit arises if the property is damaged significantly and as a result, its historical significance diminished. This exposure is typically assumed by the developer as part of the limited partnership agreement at the onset of the venture.

HRTC insurance is designed to protect owners, developers and tax credit investors against the loss of the rehabilitation tax credit during the full duration of the exposure, through rehabilitation and the first five years of occupancy.

Dollars: Up to $40 million.
Carrier: Lexington Insurance Group rated “A++” by A.M. Best. Non-admitted.
States: All.
Contact: Ed Mazman at 617-443-4660 or e-mail

School Violent Acts
Nuts & Bolts: Genesis Underwriting Management Co. developed a first-party policy to fund a school’s emergency response plan for a violent act. Typical covered expenses include post-crises management services; post-incident crises intervention and containment; media, public relations and communications costs; security and civil authority expenses; air travel and hotel costs for the parents, spouse or child of a victim to the location where the act occurred; as well as a limited amount for property or equipment that relates directly to the security of the school and which may assist in the mitigation or prevention of future acts. Minimum deductible is $2,500.

Dollars: Up to $250,000.
Carrier: Genesis Indemnity Co. rated “A++” by A.M. Best. Non-admitted.
States: All, except New Hampshire and North Dakota.
Contacts: East of Mississippi, Matt Meyer at 859-245-2500 or e-mail West of the Mississippi, Nancy Gelis at 800-275-6472 or e-mail

Artisan Contractors
Nuts & Bolts: Builders & Tradesmen’s Insurance Services Inc. has a Victory artisan contractor program available on an admitted basis in California, Arizona, Nevada and Oregon. The program offers 46 classes including structural remodelers. The program is rated on a payroll basis. The program also offers inland marine coverage that, receive a 10 percent discount if purchased with general liability. The program can be price indicated at The program allows new residential work (custom home environment), and commercial work. It also allows service and repair work in residential and commercial work environments.

Dollars: Up to $1 million/$2 million/$2 million.
Carrier: Rated “A” X by A.M. Best. Admitted.
States: California, Arizona, Nevada and Oregon.
Contact: Paul Hohlbein at 916-772-9200, ext. 113 or e-mail

Horse Mortality, MajorMedical Policy
Nuts & Bolts: Equestrian Insurance Group has a horse mortality policy that insures a horse against death or injury from almost any cause. Major medical endorsement covers up to $7,500 or $10,000 of reasonable and customary veterinary, medical and surgical care charges necessitated by accident, injury or illness. A $300 deductible will apply to each separate claim during the period of insurance. Diagnostics for non-surgical lameness will be covered for up to $1,000 per occurrence. Humane destruction is covered, but economic destruction is not.

This basic form includes coverage for theft and colic surgery at no additional cost. Preferred rates, worldwide coverage, telephone binders and 24 hour claim service.

Dollars: $1,000 to $5 million.
Carrier: Travelers Harford Berkley Lloyds rated “A+” by A.M. Best. Admitted.
States: All except Hawaii.
Contact: Brent Allen at 602-702-7600 or e-mail at

Amusement Devices
Nuts & Bolts: Anderson & Murison Inc. has a program that includes batting cages, moon bouncers and ball pits on a per device basis. Moon bouncers are limited to basic cube-shaped jump houses. No combos, obstacles courses, or slides.

Dollars: $300,000 to $1 million.
Carrier: Rated “A” by A.M. Best. Non-admitted.
States: California.
Contact: James McCarthy at 323-255-2333,

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