New Markets

Customized Liability for Restaurants

Nuts & Bolts: Monitor Liability Managers Inc. released Restaurant InsurePak, a tailor-made employment practices liability program geared specifically for full-service restaurants, fast-food restaurants, cafeterias, food service contractors and vendors. The target market is small to mid-size accounts ranging from five to 2,000 employees. Monitor Liability Managers Inc. is a wholly owned subsidiary of W.R. Berkley Corp., operating nationally as an underwriting management company specializing in professional liability insurance.

Dollars: Limits of liability up to $5 million. Deductibles available from $2,500.

Carriers: Admiral Ins. Co. rated “A+” by Best, nonadmitted; Carolina Casualty Ins. Co., rated “A” by Best, admitted.

States Available: Available through Admiral in all states, some states may not be available through Carolina Casualty.

Contact: Lynette Lyngaas, (847) 806.6590 or www.monitorliability.com.

Expanded Excess Surety Bond Capacity

Nuts & Bolts: The Chubb Group of Insurance Cos. introduced its new SuretyPlus product, which reportedly can provide up to $250 million in excess surety bond protection for projects over $500 million. It is designed to enable qualified construction firms and consortiums involved in a variety of projects, from roads to commercial buildings and power plants, to provide project owners with performance and payment bonds of up to $250 million in excess of a minimum of $500 million of primary bond limits. The product is available to retail agents and brokers through Atlantic Star Intermediaries LLC, an insurance broker specializing in the construction and real estate industries.

Dollars: Premiums vary according to the risk. There is no deductible.

Carrier: Federal Insurance Co., Vigilant Insurance Co. or Pacific Indemnity Co., all admitted.

States Available: All.

Contact: Nate Lampard, (212) 233-5015 or nlampard@atlstar.com. Bob Kelly, (908) 903-4584 or rgkelly@chubb.com.

Luxury Pleasure Boats and Mega-Yachts

Nuts & Bolts: INAMAR, the marine marketing and underwriting division of ACE USA, introduced a significantly enhanced version of its elite yacht program, an insurance program designed exclusively to fulfill the unique insurance needs of high-value luxury yacht owners. This program is designed specifically for vessels valued at $5 million or greater, and includes many new innovative benefits such as a waiver for the hull physical damage deductible if the loss amount exceeds that deductible. Other benefits and features include: worldwide navigation limits, fine arts coverage, captain and crew coverage, loss of charter income, rental reimbursement and marine environmental damage benefits along with many other distinctive policy provisions.

Dollars: Policy limits depend on client requirements. The deductible is generally one-half percent of the Hull (property) limit, although it is conditional.

Carrier: ACE American Insurance Co., rated “A” by A.M. Best, admitted.

States Available: All.

Contact: Peter LaFontaine, (215) 640-2609 or peter.lafontaine@ace-ina.com. www.inamarmarine.com.

Management Liability for Manufacturers

Nuts & Bolts: St. Paul Travelers launched a new management liability insurance program for members of the National Association of Manufacturers. The program is administered exclusively by Aon Association Services, a division of Aon’s Affinity Insurance Services Inc. The new NAM-sponsored insurance portfolio program provides management liability and crime coverage to manufacturers of all sizes. This program offers coverage to address directors’ and officers’ liability, employment practices and fiduciary liability, fidelity, and kidnap and ransom exposures. Qualified insureds also receive access to Risk Management PLUS Online, which offers tools to help employers manage and reduce their exposure to employment-related and/or fiduciary suits.

Dollars: No minimum premium or deductibles. Limits up to $10 million with $25 million available for larger groups.

Carrier: St. Paul Travelers, rated “A+,” admitted.

States Available: All.

Contact: Paul M. Bondy, (202) 429-8564 or www.nam-aon.com.

Sports Associations, Venues, Promoters and Events

Nuts & Bolts: SportsMax for sports insurance. Headquartered in Manhattan Beach, Calif., SportsMax insures sports associations, venues, promoters and events, working in a wide range of sports. SportsMax is a division of Gowrie, Barden and Brett. Program highlights include association liability, event liability, property packages, directors and officers liability, event cancellation, accident and health coverage.

Dollars: Premiums start at $2,500. Deductibles and limits vary.

Carrier: “A” rated carrier, admitted.

States Available: All.

Contact: Peter Gumbrecht, (866) 852-8550 or www.sportsmax.com.

Teachers’ Professional Liability

Nuts & Bolts: THOMCO added teachers’ professional liability to its Childcare Choice program, endorsed by the National Child Care Association. Coverage is offered automatically and at no charge on all policies. It includes, but is not limited to, property, automobile, general liability (including sexual abuse and corporal punishment), student accident, equipment breakdown and umbrella liability.

Dollars: There is no additional premium or deductible involved in this endorsement.

Carrier: Stonington Insurance Co., rated “A,” admitted.

States Available: All.

Contact: Cheryl Griffin, (888) 245-7339 or csgriffin@thomcoins.com.

To submit information for this department, e-mail: koreilly@insurancejournal.com.