New Markets
Renters Legal Liability
Nuts & Bolts: Lexington Insurance is offering a new market for renters sold directly through insurance agents. The benefits to be paid, subject to the policy’s express provisions and to the extent of the $100,000 policy limits, are in the following priorities. In the event of a covered loss the $100,000 policy limits, per occasion, shall benefit and/or be paid as follows: First, to the owner to the extent of the owner’s loss; Second, to the adjacent (non-negligent) resident(s) to the extent of such residents’ personal property loss, plus $1,000 for additional living expenses; Third, to the negligent (damage-causing) resident not to exceed $5,000, to the extent of such resident’s personal property loss, plus $1,000 for additional living expenses. Renters legal liability insurance covers damages caused by renters’ negligence for fire, smoke, explosion, accidental water discharge and sewer backup.
Dollars: $1,000 yearly deposit, $1,000 deductible, $100,000 policy limit.
Carrier: Lexington Insurance, a member of AIG, rated “A+ XV.”
States Available: All.
Contact: (800) 770-9660 or Web site www.rllinsure.com.
Homeowners Associations
Nuts & Bolts: Union General has an “A” rated carrier offering coverage for common area exposures for homeowners associations. Coverage is available for tennis courts, basketball courts, baseball diamonds, lakes, bathing beaches, boat docks and slips, clubhouses, playgrounds and swimming pools for an additional charge.
Dollars: Pricing is on a per unit basis with limits going up to $2 million per occurrence and $3 million on aggregate. Premiums vary and deductibles are generally $500 for general liability and $1,000 for property.
Carrier: Scottsdale or Moorefield both rated “A,” nonadmitted.
State Available: California.
Contact: Dawn Levy or Joyce Aguirre, (925) 671-2128 or ug@uniongeneral.com.
Social Services
Professional Liability
Nuts & Bolts: NAS Insurance Services has introduced new social services professional liability coverage. Eligible classes range from mental health facilities to alcohol and drug rehab centers, as well as meals-on-wheels, respite care and hotlines. Among the many features of the social services insurance are incident reporting and full prior acts protection. Additional sexual abuse/molestation coverage is available by endorsement, as is defense in addition to the limits. Coverage for employed psychiatrists also can be obtained.
Dollars: Limits go up to $1 million each claim/$3 million aggregate. The coverage is also available in combination with general liability and professional coverages. The minimum premium is $2,000 and the minimum deductible is $5,000.
Carrier: NAS Insurance Services, an underwriting manager and Lloyd’s correspondent.
States Available: All states except for Alaska, Florida (Dade/Palm and Broward Counties), Hawaii, Texas (Rio Grande Valley), West Virginia.
Contact: David Leventhal, (818) 808-4464 or dleventhal@nasinsurance.com.
To submit information for this department, e-mail bwells@insurancejournal.com.