My New Markets

February 8, 2021

All Lines Aggregate

Market Detail: RPS Signature Programs (www.rpsins.com/programs/signature-programs) helps public entities manage costs of risk and unlock long-term savings. Its all lines aggregate program blends risk retention, risk transfer, and customized claims management. RPS’ experience with municipalities, schools, states, and others with exclusive package facilities with A-rated or better carriers spans more than 40 years. RPS offers broad coverage, underwriting expertise, and risk management resources.

Its Signature Programs’ in-house underwriting capability offers quick turnaround provides a list of pre-approved third-party administrators (TPAs) to facilitate the control and management of claims for insureds. RPS Signature Programs team’s market relationships give it the ability to offer products for towns, villages, boroughs, counties, housing authorities, special districts, utility authorities, public K-12, and colleges/universities. Coverages include: All lines aggregate package limits available up to $10 million; clash coverage for multi-line losses; all lines loss fund including workers’ compensation; client control of the claims process; coverage provided as insurance or reinsurance to the client’s policy; and sexual abuse and sexual harassment. Target classes include larger public entities that have a self-insured retention of greater than $50,000 or entities that are seeking to go self-insured. Limits for all casualty lines are available for up to $10 million; higher casualty limits are available from our excess carrier partners. Limits to $1 million with options for excess property; self-insured workers compensation buffer limits available for up to $250,000 with additional options for statutory excess WC coverage.

Available limits: As needed

Carrier: Unable to Disclose

States: All states

Contact: Bob Lombard at 775-360-6626 or e-mail: bob_lombard@rpsins.com

Business Owners Policy

Market Detail: CorRisk Solutions (www.corrisksolutions.com) now offers the ISO BOP specialized admitted coverages and proprietary enhancements. Targe classes include, but are not limited to: retail, wholesale distributors, professional offices, beauty services, medical office, financial offices & advertising services. Eligible risks include: veterinarian; real estate agents offices; apparel stores; ticket agency; printing services; payroll service offices; labor unions; law offices; garden supplies; convenience stores (no gas); funeral homes; labor unions; packing stores; bicycles sales shops; grocery stores; florist shops; newsstands; insurance agents offices; decorators offices; and barber shops. Property coverage with TIV limits up to $10 million dependent on construction type; general liability coverage limits of $500,000/$1 million/1 million, $1million/$2 million/$2 million, $2 million/$4 million/$ million; revenues up to $6 million annually. Professional liability available for only beauty parlor, barber shops & hair salons; veterinarians; optical & hearing establishments. ISO coverages and extensions endorsements are available for property and casualty.

Available limits: As needed

Carrier: Unable to disclose, admitted

States: All states except La., Okla.

Contact: Michelle Akacki at 631-393-1010 or e-mail: marketing@CorriskSolutions.com

Special Events for the Education and Municipality Industry

Market Detail: Wright Specialty (www.wrightspecialty.com) offers a special event insurance product to municipality and education clients for third parties renting from their facilities. When an operation opens facilities to outside groups, they open themselves up to potential damages and liability from their renters’ activities.

Requiring renters to purchase insurance protection to cover their activities and having it include additional insured language ensures that the municipality or school has the right protection as well.

Premiums start at $90 for hundreds of event types. Sports events, camps, social and holiday events, clinics, concerts, fundraisers, craft bazaars, festivals, conferences, and meetings are just a few of the eligible events. If an event is not specifically listed, the renter can simply call (877) 976-2111 to discuss options to secure coverage.

Available limits: As needed

Carrier: Unable to disclose, admitted

States: All states

Contact: H Diamantidis at 877-976-2111 or e-mail: hdiamantidis@wrightinsurance.com

Satellites – Space

Market Detail: Wholesale Aerospace Insurance Broker, part of Plimsoll Specialty Markets (www.plimsollspecialty.com) is made up of experienced aerospace insurance placing everything from an airline to a light aircraft, from an airport to a baggage handler and from a major airframe manufacturer to a small non-critical component manufacturer. The team can provide assistance with coverage placement for: space products coverage; satellite or satellite component manufacturers; launch liability satellite launch coverage; in-orbit coverage; satellite builders risk and inland marine coverages.

Available limits: Minimum $1 million, Maximum $2 billion

Carrier: Unable to disclose

States: All states except Florida

Contact: Michael Clark at 770-298-2806 or e-mail: mclark@plimsollspecialty.com

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Insurance Journal West February 8, 2021
February 8, 2021
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