New Markets

Bed and Breakfast
Nuts & Bolts: Smith, Bell and Thompson and Swiss Re’s Commercial Insurance announce a new program for Bed & Breakfast accounts. The Bed & Breakfast program is designed for the innkeeper industry. Target accounts include bed and breakfasts, country inns or cabin rentals. Bed & breakfasts serve only breakfast to overnight guests. A country inn serves breakfast to overnight guests, however, with a restaurant open to the public. The cabin rental is typically more than four habitational buildings located in close proximity on the same premises with one sleeping room per building and a common building where breakfast is served. These establishments are usually individually owned; hotel/motel franchises and national or regional chains are not eligible.

Limits: Varies.Carrier: Rated “A+” XV by A.M. Best. Non-admitted.

States: All, except Missouri and Hawaii.
Contact: Doug Grahn, director of marketing, (802) 658-4600 or dgrahn@sbtinsurance.com.

Professional Liability Program
Nuts & Bolts: London American’s Professional Liability program is designed for a diverse set of professions, including many types of consultants, insurance services, media and real estate classes. Coverage is offered on both a primary and excess basis for risks with up to $250 million in revenue. Policy highlights include: primary and excess coverage available; claims made and reported policy; company has right and duty to defend; coverage is extended to employees while acting within the scope of their employment duties; personal injury coverage; “prior acts coverage provided for insureds who have carried continuous coverage, predecessor and successor firm coverage; automatic 60-day extended reporting period; and worldwide coverage for suits brought in the U.S

Limits: Up to $5 M for each claim; $5 M annual aggregate limit.
Carrier: Rated “A” by A.M. Best. Non-admitted. Deductible, $5,000. Minimum premium, $5,000.
States: Ala., Ark., Ariz., Calif. Colo., Fla., Ga., Hawaii, Idaho, Ill., Ind., Kan., Ken., La., Md., Mich., Minn., Miss., Mo., Mont., Neb., Nev., N.J., N.M., N.Y., N.C., N.D., Ohio, Ore., Penn., S.C., S.D., Tenn., Texas, Utah, Va., Wash., D.C., W.V. , Wis., and Wyo.
Contact: Ed Velasquez, president, (201) 944-7000 or evelasquez@londonamericantx.com.

E&O Coverage for New P/C Agents
Nuts & Bolts: Rockwood Programs recently partnered with certain underwriters at Lloyd’s of London to offer professional liability coverage specifically for property casualty agents licensed less than three years. Factors which determine eligibility include years of experience, annual commission revenues, risk location, and types of products placed. As a prerequisite of coverage, new policyholders must also agree to review risk management tools available. Once an agent has three years of experience, he/she becomes eligible for Rockwood’s standard program.

Limits: $1 million/$1 million; $5,000 deductible. Premiums start at $3,100.
Carrier: Lloyds of London. Admitted and non-admitted.
States: All, except Ala., Alaska, Ariz., Calif., Fla., Hawaii, La., Mass., Miss., Nev., N.J., Texas, Wash. and W. V.
Contact: Darryl McCallin, vice president, (302) 765-6018 or darryl.mccallin@rockwoodinsurance.com.