New Markets
High Value Homeowners Program
Nuts & Bolts: Crawley Warren Insurance Services Inc. announced its new customized High Value Homeowners Program (HVH) for high net worth clients in California. This non-admitted product is designed for dwellings over $750,000, but is available for dwellings as low as $500,000 and as high as $25,000,000. Immediate binders are available for eligible risks not exceeding $5,000,000 total Section I Property. The key feature of this extraordinary product is the ability of the clients to choose limits for other structures, personal property and loss of use.
Dollars: Up to $5 million.
Carrier: Lloyds of London, rated “A” by A.M. Best. Non-admitted.
States: California and Hawaii.
Contact: Kris Zebratski, 415-544-0969, ext. 305, or e-mail krizabratski@crawleywarrenins.com.
Travel Guard
Nuts & Bolts: AIG Travel Guard has created a travel insurance plan called My Travel Guard that allows clients to pick and choose the coverages that best meet their specific travel needs. The plan offers coverage for a ‘hospital of choice’ medical evacuation, adventure travel risks, and the option to select primary or secondary coverage for baggage and medical expense. The base plan includes essential coverages for trip cancellation, interruption, and delay; lost, stolen or damaged baggage and personal effects; baggage delay; medical expenses; and emergency medical transportation. Travelers can then select the additional coverages and limits.
Dollars: Up to $30,000 for trip cancellation; up to $50,000 emergency medical; unlimited coverage for medical evacuation; to $1,500 for baggage and up to $500,000 for flight accident.
Carrier: AIG, rated “A+” by A.M. Best. Admitted.
States: All, except Washington.
Contact: Tom Zavadsky, 800-826-1300 or e-mail tom.zavadsky@aig.com.
New Construction, Remodelers,
Nuts & Bolts: Network E&S Insurance Brokers, LLC is pleased to announce 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.
Campground, Recreational Vehicle Parks
Nuts & Bolts: The Philadelphia Insurance Companies has introduced its newest product, Campground and Recreational Vehicle Parks. This product is 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 underwriting 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.
Residential Engineering Services
Nuts & Bolts: AIG Private Client Group, a division of the personal lines property and casualty insurance subsidiaries of American International Group Inc., introduced its Residential Engineering Services product. Designed for owners of large, complex homes, this new complimentary service is intended to detect frequent causes of property damage before they can escalate into a catastrophic loss. Homes of this size are often equipped with complex electrical, heating and plumbing systems that are comparable to commercial properties. Homes considered have mechanical systems and have a replacement value of $10 million and up.
Dollars: $150 million or greater.
Carrier: AIG, rated “A+” by A.M. Best. Admitted.
States: All, except Alaska.
Contact: Steve Felton at 561-214-3179 or e-mail steve.felton@aig.com