New Markets
NewMarkets
Commercial Builder’s Risk Catastrophe
Nuts & Bolts: International Catastrophe Insurance Managers LLC and Lantana Insurance Ltd., a member of the Glencoe Group of Companies, launched a commercial Builder’s Risk catastrophe product to be written on a surplus lines basis in Texas, Louisiana, Mississippi, Alabama, Florida and South Carolina. It is designed for commercial buildings that are being newly constructed or that are under renovation or repair. Subject to the terms, conditions, exclusions and limitations contained in the policy, coverage is provided for the building, contents and specified soft costs on a stand-alone wind/hail basis. ICAT will provide primary or full limits up to $5 million.
Dollars: Primary or full limits will go up to $5 million.
Carrier: Lantana, rated “A-“, Class IX by
A.M. Best.
States Available: Texas, Louisiana, Mississippi, Alabama, Florida and South Carolina.
Contact: www.icat.com.
Miscellaneous Medical Malpractice
Nuts & Bolts: NAS Insurance Services’ miscellaneous medical malpractice insurance program has several new features including deductibles under $2,500. The coverage can now be underwritten with greater rate flexibility and is available combined with GL and professional liability. Special features include incident reporting, full prior acts, sexual abuse/molestation coverage available by endorsement, plus defense in addition to the limits, up to half of the per claim limit (by endorsement).
Dollars: Deductibles start under $2,500. Limits: $1 million per claim/$3 million aggregate.
Carrier: Underwritten by NAS Insurance Services, an underwriting manager and Lloyd’s (“A” rated) correspondent.
Contact: David Leventhal, (818) 808-4464 or dleventhal@nasinsurance.com.
Business Owners and Commercial Package
Nuts & Bolts: CNA introduced CNA Connect for small business customers that will combine the company’s former business owners’ policy and commercial package policies. CNA Connect provides agents with access to more eligible classes, broader coverages, more optional coverages, flexibility to add or delete coverages, as well as complete online rating and submission for all eligible small business risks. CNA Connect is available for small business with under $10 million in sales. CNA Connect, currently available in 19 states, offers 1,000 eligible classes of business but will add another 1,000 classes in 2006.
Dollars: Deductibles up to $10,000. Limits are subject to state. The minimum premium is $500 in most states.
Carrier: CNA, A.M. Best rated “A”, admitted.
States Available: Currently available in 19 states. It will expand countrywide in 2006.
Contact: Local CNA field sales specialist or www.cna.com.
Fire and Water Restoration Plus Pollution and Mold Liability for Contractors
Nuts & Bolts: Bonding and Insurance Specialists Agency is offering fire and water restoration contractors general liability plus contractor’s pollution and mold liability. BISA has been writing insurance and bonds for contractors and consultants with pollution exposures for 20 years.
Dollars: Policy limits: $1 million per occurrence, $2 million aggregate standard. Higher limits are available. Deductibles are $5,000 standard. Minimum premium is $10,000.
Carrier: Rated “A XIV,” nonadmitted.
States Available: Most states.
Contact: Dennis Konieczny (800) 346-1031 or www.bisa-inc.com.