New Markets
New Construction, Remodelers, Owner/Developers
Nuts & Bolts: Network E&S Insurance Brokers LLC has a new limited access Builder’s Risk/Contractors Equipment Program for both residential and commercial. Residential and commercial structures with no size limitations; frame and concrete structures are acceptable. No new ventures; two years in business required. No tracts or condo projects for this program.
Dollars: Limits up to $5 million (additional limits available); minimum deductible of $1,000, higher deductibles available. $5,000 minimum premium.
Carrier: Rated “A” XV by A.M. Best. Non-admitted.
States: All except Florida.
Contact: Fresno, Calif., office, 559-449-9500; San Francisco, 415-546-4900 and Calabasas, 818-224-2060.
Auto Product
Nuts & Bolts: The Hanover Insurance Group Inc. a regional property and casualty company based in Worcester, Mass., is now offering its Connections Auto product in Arkansas, Ohio, Oklahoma and Wisconsin. Connections Auto is part of The Hanover’s personal lines products, which offers coverage for all lines of personal insurance including auto, homeowners and umbrella coverage.
Dollars: Varies by state and coverage.
Carrier: The Hanover Insurance Group and Citizens Insurance Company of America, both rated “A-” by A.M. Best. Admitted.
States: Ark., Conn., Fla., Ill., Ind., La., Ohio, Okla., Maine, Mich., N.H., N. J., N.Y., Tenn., Va., and Wis.
Contact: Sujata Mutalik at 508-855-3457 or e-mail smutalik@hanover.com.
Investment Advisors, Investors
Nuts & Bolts: Investment advisers, mutual funds and hedge funds now have added protection for a variety of risks through a policy introduced by St. Paul Travelers. St. Paul Travelers SelectOne for Investment Advisers and Funds helps investment advisers, mutual funds and hedge funds address exposures they might incur through business interactions with investors, employees, shareholders, governmental agencies and pension plan participants. The policy provides coverage for the following incidents: failure to adhere to investment guidelines and restrictions; misrepresentations and failure to adequately disclose risks; mismanagement of investments; breach of fiduciary duties to clients or pension plan participants; and, unintentional errors committed in the course of performing regular investment adviser duties.
Dollars: Up to $25 million in the aggregate.
Carrier: Travelers, rated “A” by A.M. Best. Admitted.
States: All.
Contact: Steve Boughal at 917-778-6149 or e-mail, sboughal@travelers.com.
Millwright Contractors
Nuts & Bolts: Travelers introduced new products for millwright contractors that include workers’ compensation, commercial general liability, automobile liability and physical damage, property, inland marine, umbrella and surety. Services include TravComp workers’ compensation claims management; subrogation and contractual risk transfer expertise; 40-hour professional crane operator program; rigging and forklift training; and, network of fleet specialists.
Dollars: Up to $1 million; higher limits available.
Carrier: Travelers, rated by “A+” by A. M. Best. Admitted.
States: All.
Contact: Janice Diluciano at 860-277-1295 or e-mail JDILUCI2@travelers.com.
Campground and Recreational Vehicle Parks
Nuts & Bolts: The Philadelphia Insurance Companies has introduced its newest product, Campground and Recreational Vehicle Parks, intended for stand-alone campground and recreational vehicle park operators. PHLY is targeting the franchised parks due to the standards established for the parks by the franchise corporation concerning park management, park conditions, park amenities, and frequency of inspections. Large in-house property capacity exists which allows PHLY to write any campground or RV park that meets its un-derwriting criteria.
Dollars: General liability limits up to $1 million/$3 million; commercial excess liability limits up to $10 million.
Carrier: Philiadelphia Indemnity, rated “A” and “A+” by A.M. Best. Admitted.
States: All except Louisiana.
Contact: Mark Plousis at 610-617-7678 or e-mail mplosusis@phlyins.com.
Mid-sized Business Property Policy
Nuts & Bolts: Zurich is introducing a new, broader property insurance policy for mid-sized businesses. The policy offers Zurich’s proprietary rates and includes more than 36 additional coverages that significantly improve coverage options. The product addresses specific customer risk needs by providing flexibility to tailor solutions for the individual customer. “Property Portfolio Protection” is an all-risk policy that includes a more extensive range of automatic coverages and requires far fewer endorsements. In addition, the policy uses simplified, straightforward language, making it easier for customers to understand.
Dollars: Up to $150 million per location.
Carrier: Zurich America Insurance Company, rated by “A” by A.M. Best. Admitted.
States: All except Fla., Hawaii, La., N.Y., Va., and Wash.
Contact: Dave Rutkowski, at 847-605-6116 or e-mail david.rutkowski@zurichna.com.
Real Estate Professional Liability
Nuts & Bolts: Victor O. Schinnerer & Co. announced two upgrades to its real estate errors and omissions policy endorsements. These upgrades are to its discrimination endorsement and to its environmental hazards endorsement. These upgrades make the policy more comprehensive, providing better protection to real estate firms. Both enhancements are included in the standard policy. The discrimination endorsement will automatically include a sub-limit of up to $100,000. This is an increase from $25,000 in most states, for no additional premium. The environmental hazards endorsement will be automatically included up to policy limits at no additional charge. A 10 percent additional premium was charged previously. Schinnerer is in the process of filing the updates in all states. Approximately one-half of the states had these enhancements as of Oct. 1, 2006. As states approve the upgrades, they will be posted online at www.PlanetRealtyChoice.com.
Dollars: Up to $1 million.
Carrier: CNA, rated “A” XV by A.M. Best. Admitted.
States: All, however, check Web site, www.PlanetRealtyChoice.com, for availability and enhancement.
Contact: Catherine Williams, 301-961-9843 or e-mail vos.realestate@schin nerer.com.