First Capital, Hudson Insurance Group Launch Insurance Services PL Facility

May 10, 2013

First Capital-AWIS, LLC (First Capital) and Hudson Insurance Group (Hudson) have introduced a new insurance services professional liability primary and excess facility underwritten by Hudson and administered exclusively by First Capital. The facility offers a range of insurance services classes, including retail and wholesale insurance agents and brokers, MGAs, MGUs, third party administrators, multiple employer trusts, captives, self-insured plans, risk retention groups, risk purchasing groups, regional insurance companies, claims adjusters, reinsurance intermediaries, insurance actuaries and risk management and loss control consultants.

The facility will be marketed through an exclusive network of wholesale producers appointed by First Capital offering capacity of $5 million and standard and available optional features, including:

  • Minimum premium of $7,500 and minimum retention of $5,000
  • 50/50 hammer clause with options as low as 20/80
  • First-dollar defense
  • 50 percent retention credit For mediation (subject to $25,000 maximum credit)
  • Duty to defend, claims-made and reported coverage
  • Aggregate retention available
  • Breach of privacy, breach of security, intellectual property rights infringement and personal and advertising injury coverage
  • Prior acts coverage available for accounts with prior and continuous coverage
  • 60 days automatic extended reporting period
  • Disciplinary proceedings coverage
  • Loss of earnings and expense reimbursement
  • Punitive damages coverage with “most favorable venue wording”
  • Independent contractors coverage
  • Automatic subsidiary coverage
  • Final adjudication wording for personal conduct exclusions
  • Payment of claim expenses for injunctive relief claims
  • Mutual selection of defense counsel
  • Extended reporting period up to five years
  • True worldwide coverage
  • Coverage for sale, servicing and advising of mutual funds

First Capital’s professional lines team is based in San Diego with a field office in Atlanta. Hudson Insurance Group is the US Insurance Division of Odyssey Re Holdings Corp. with assets of $11.2 billion and $3.7 billion in shareholders’ equity.

Was this article valuable?

Here are more articles you may enjoy.