New Markets

Employed Lawyers Protection

Nuts & Bolts: Philadelphia Insurance Cos. has launched Employed Lawyers Protection Plus, which protects attorneys working as in-house counsel, their support staff and eligible independent contractors from claims arising out of their work in providing legal services to the insured, including moonlighting and pro bono services. Protection is provided to the in-house attorney including matters where indemnification by the employer is not permitted or withheld. Claims alleging malpractice against the in-house attorney, which are excluded under many directors and officers policies are covered and may be brought by third parties as well as their employer and shareholders. Acceptable classes include most types of privately held and non-profit organizations, as well as publicly traded companies with less than $1 billion in market capitalization. Other underwriting criteria and restrictions apply.

Dollars: Up to $10 million available.

Carrier: Philadelphia Insurance Companies, rated “A+” by A. M. Best. Admitted.

States: All, except in Louisiana. Available on admitted paper in 45 states. Check with company for more information.

Contact: James Sheldon, product development manager and counsel, 610-538-2138 or e-mail, jsheldon@phlyins.com.

City Homes Insurance Program (CHIP)

Nuts & Bolts: Most major insurers see the small condo and apartment buildings that dominate the residential neighborhoods of many American cities as bad business. The premiums are simply too low and the risk level too high.

But real estate insurance program developer Distinguished Programs has been testing the waters with CHIP (City Homes Insurance Program), a new property, liability and umbrella program for condo and apartment buildings with 20 units or less and up to $5 million in insured values.

The program, which is available exclusively through agents and brokers, gives small building owners the same level of coverage and deductible options available to larger property owners.

Dollars: Up to $5 million.

Carrier: AIG, rating “A+” by A. M. Best. Admitted.

States: Albany, N.Y. Alexandria, Va., Baltimore, Chicago, Denver, Los Angeles, Milwaukee, Minneapolis, Philadelphia, Portland, Ore., Seattle, St. Louis and Washington, DC.

Contact: Jim Tesoriero, at 888-355-4626
or jtesoriero@distinquished.com.

Land Surveyors Professional Liability

Nuts & Bolts: Victor O. Schinnerer & Co. announces its new online application for Land Surveyors professional liability that simplifies the application process. In addition to quotes being delivered and processed more quickly, the new online application has many time saving features, including:

Pause that saves the application mid-stream so a user who is interrupted can come back to it later with a tracking number.

Forward, which allows the applicant to email the application to others for help in completing certain sections.]

Submit, which sends the application directly to Schinnerer. Copies are automatically sent to all e-mail addresses included on the application, including the broker and the prospective insured. All kinds of documents may be attached to the online application.

Coded links pre-fills the application with the brokerage information.

Dollars: Up to $10 million for professional
liability

Carrier: CNA Insurance, rated “A” by A. M. Best. Admitted.

States: All, including the District of Columbia and U.S. Territories.

Contact: Kevin Collins, 301-951-5412 or e-mail Kevin.j.collins@Schinnerer.com.