New Markets

August 7, 2006

Retail Carts
Nuts & Bolts: General liability, including contractual liability, personal injury and advertising injury liability for retail cart vendors operating concessions and exhibits is available from K&K Insurance Group Inc. This program is specifically tailored for concessionaires, exhibitors and vendors operating at various types of sites, including special events, arts and craft shows, fairs, festivals and trade shows. Premiums vary according to the overall square footage and the number of tables or booths. K&K offers a fee-based program, however commissions are negotiable for books of business. During the policy period there are no limitations on the number of shows the insured may attend. This program is a self-rating/brochure-style product where applicants can submit payment with enrollment form for faster processing.

Dollars: $300,000 damage coverage to premises rented; $5,000 medical payments.
Carrier: Rated “A+” by A.M. Best. Admitted.
States: All
Contact: K&K Insurance Group Inc. 800- 328-2317 or www.kandkinsurance.com.

Insurance Agents Errors & Omissions
Nuts & Bolts: London American Professional Liability LLC (LAPL) introduced a new program for independent property and casualty insurance agents’ errors and omissions. This professional liability program is designed for agencies with gross written premiums between $5 million and $250 million. Coverage will be offered on a primary and excess basis. Eligible agencies include retailers, wholesalers, specialist firms and hard to place firms.

Dollars: $5 million each claim/$5 million annual aggregate limit. Minimum premium $10,000/$5,000 excess.
Carrier: Rated “A” XV by A.M. Best.
States: All
Contact: Ed Velasquez 201-944-7000 or evelasquez@londonamericantx.com.

Miscellaneous Medical Malpractice
NAS Insurance Services has a new miscellaneous medical malpractice insurance program. The existing NAS medical malpractice insureds will be renewed with HC. However, Texas insureds will be renewed with HCC Specialty Insurance Co.

Defense outside the limits is available, as is supplementary sexual abuse/molestation insurance.

Dollars: Minimum $1 million; $3 million aggregate.
Carrier: Rated “A” superior by A.M. Best.
States: All, except Alaska and Hawaii.
Contact: Dave Leventha 818-808-4464 or dleventhal@nasinsurance.com.

Builder’s Risk Program
Nuts & Bolts: Praetorian Financial Group, a specialty insurance provider, has announced that it has entered into a partnership with Britt Paulk to launch a builder’s risk program. Builder’s risk covers properties while under construction. The partnership will initially be launched in Florida and the Gulf states, where Builder’s Risk has been extremely difficult to obtain. The new program will focus on quality builders and superior construction. Ultimately the new program will cover both commercial and large residential construction projects nationally except in Hawaii.

Dollars: Limits up to $30 million.
States: All, except Hawaii.
Carrier: Britt Paulk. Rated “A” by Standard and Poors; “A-” by A.M. Best.
Contact: Michael Pilla, Britt Paulk Insurance 770-214-7607 or mike.pilla@brittpaulk. com.

Crane-Construction Contractors Program
Nuts & Bolts: Arrowhead General Insurance Agency Inc. is offering a new crane-construction contractors program. Endorsements include riggers liability in addition to other coverage enhancements as part of the policy limits.

Dollars: Policy limits are up to $1 million/$2 million/$2 million for general liability. Business auto policy is $1 million combined single limits. Minimum general liability deductible is $5,000, with a minimum premium for general liability at $25,000.
Carrier: Coverage is being offered on a nonadmitted basis for general liability and admitted for BAP rated RSR “A-” Excellent, FSC (IX) “A-” by A.M. Best.
States : Coverage is available by appointment only in Ala., Alaska, Ariz., Ark., Calif., Colo., Conn.*, D.C., Del.*, Fla., Ga., Hawaii, Idaho, Ill., Ind., Iowa, Kan., Ky., La., Md., Mass., Maine*, Miss., Mich.*, Minn.*, Mo., Mont., Neb., N.J.*, N.Y.*, N.H.*, Nev., N.M., N.C., N.D., Ohio, Okla., Ore., Pa., R.I.*, S.C., S.D., Tenn., Texas, Utah, Vt., Va., Wash., W. Va., Wis. and Wyo. (*Approval currently pending for general liability only).

Contact: Barbara Hartz, crane/construction division, 619-881-8508 or AGIA construction@arrowheadgrp.com. Web site:www arrowheadgrp.com.

Topics AM Best Hawaii

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Insurance Journal Magazine August 7, 2006
August 7, 2006
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