New Markets
High Performance Boats
Nuts & Bolts: Markel American Insurance Co. teamed up with Elton Porter Marine Insurance Agency to offer a new ultra high performance boats program. This program provides hull and liability coverage for boats with speeds ranging between 120 mph and 150 mph.
Dollars: Limits are $750,000 on the hull, $500,000 for liability. Deductible, 10 percent.
Carrier: Markel American Insurance Co., admitted.
Contact: Tom Conroy, (800) 236-2862 ext. 3355, tconroy@markelcorp.com or Ken Collier, (800) 759-2628, ken.collier@businessinsurancegroup.com.
Specialty Ship Repairers
Nuts & Bolts: St. Paul Travelers introduced the Shipwright Program for specialty ship repairers and marine contractors with annual gross receipts of $350,000 or less. A single policy combines marine general liability, ship repairers’ legal liability and miscellaneous property coverage for this specialty market. The new program utilizes an automated rating approach, flat premiums, low deductibles and comprehensive coverage. Features include coverage for products and completed operations liability and contractual liability; premises liability coverage; worldwide liability coverage; automatic $5,000 miscellaneous property coverage limit for tools; and no errors and omissions exclusion. It is available to employee-owned or owner-operated ship repairers and marine contractors that have been loss-free for at least three years.
Dollars: Limits are $1 million per occurrence, $2 million on aggregate and $500,000 for miscellaneous property. Minimum premium of $2,000. Deductibles are $1,000 on miscellaneous property and $2,500 for marine general liability.
Carrier: St. Paul Fire and Marine, admitted.
States Available: All.
Contact: St. Paul Ocean Marine, George Butler, (732) 321-5623 or gcbutler@spt.com.
Big Boat Insurance
Nuts & Bolts: U.S. Sailing, a national governing body for the sport, and Gowrie Barden & Brett have teamed up to offer a new big boat insurance program for U.S. Sailing members. The program offers comprehensive, customized coverage for sailboats larger than 30 feet on and off the racecourse. The program offers customized service for most boats, including new and older boats, PHRF and Grand Prix racers, as well as cruisers. Some coverage highlights include: Captain and crew, paid and unpaid; containers and equipment onshore; overland transportation; worldwide navigation optional.
Dollars: Premiums and deductibles vary by risk, based on sailboat type, loss history and use. Policy limits up to $5 million for hull and P&I.
Carrier: New Hampshire Insurance Company.
States Available: All.
Contact: Rod Clingman, (800) 262-8911 ext. 177.
Computing Technology
Nuts & Bolts: Aon is a program administrator for a Computing Technology Industry Association (CompTIA)-sponsored insurance and risk management program tailored to technology companies. “Wired for Growth,” a division of Aon’s Affinity Insurance Services Inc., will administer the program, which will be brokered through multiple underwriters. Coverages such as technology errors and omissions, network risk, directors and officers liability, crime, employment practices and transit/cargo policies.
Contact: Thaddeus Woosley, (312) 381-2446, Thaddeus_woosley@aon.com.