New Markets
Monoline Auto Classes, Small Commercial Businesses
Nuts & Bolts: Zurich’s small business agents now have more than 500 monoline auto classes to sell. The company has opened an additional 257 existing America Premier classes for monoline auto and added 238 new primary monoline-only classes. The new monoline-only classes consist of service, wholesale, office, manufacturing and trade market segments. Combined with Zurich’s 40 existing construction classes, more than 500 monoline primary auto classes and nearly 1,300 subclasses are now available for small commercial auto agents. To further aid agents, Zurich is expanding underwriting guidelines for heavy and extra-heavy trucks, from the current 20 percent of all vehicles to 50 percent (maximum of 10 vehicles per policy with heavy and extra heavy).
Dollars: Primary auto, $1 million; umbrella, up to $10 million.
Carrier: Rated “A” by A.M. Best. Admitted or non-admitted.
States: Ala., Ariz., Calif., Colo., Conn., D.C., Fla., Ga., Idaho, Ill., Ind., Kan., Ken., La., Maine, Md., Mich., Minn., Mo., Miss., Mont., N.C., Neb., N.D., N.H., N.J., Nev., Ohio, Okla., Ore., Penn., R.I., S.C., S.D., Tenn., Utah, Va., Vt., Wash., Wis., W.V. (Delaware and Arkansas available by year’s end).
Contact: Gerald Chiddick, chief marketing officer, Zurich Small Business, 410-261-2247 or e-mail Gerald.chiddick@zurichna.com.
Agents and Brokers E&O Program
Nuts & Bolts: Victor O. Schinnerer & Co., Inc. announced an errors and omissions program that targets small to mid-size property and casualty agents and brokers, and can accommodate agencies with up to $25 million in annual premium. Agencies best suited for the program handle personal lines and small commercial business. Agencies must generate at least 60 percent of their revenue from property and casualty business. Eligible agents are those with up to 35 percent of specialty or surplus lines premium. Agencies with life, accident and health business may be written, provided that premium volume does not exceed 40 percent. Wholesalers are not eligible under the program.
Dollars: Up to $2 million.
Carrier: General Star Management Co., rated “A++” by A.M. Best. Admitted. Prior acts and insolvency coverages, placement with carriers rated “B+” or better by A.M. Best are available for qualified risks. Admitted.
States: Conn., Ill., Ind., Md., Mass., Mich., Mo., N.J., N.Y., Ohio, Penn., Tenn. and Va. Please call or check the Web site for the latest approval status of these states.
Contact: David Harris, 301-961-9867 or e-mail david.c.harris@schinnerer.com.
Retail Furniture Store Program
Nuts & Bolts: San Antonio-based Argonaut Group’s Select Markets launched the Retail Furniture Store Insurance Program, which includes property coverage with optional deductible levels and business income coverage valued at actual loss sustained. Options include an endorsement with several broad property coverages on one form. The program also offers workers’ compensation guaranteed cost plans, general liability, earthquake, and computer coverage. Preferred clients include stores with excellent property maintenance, strong financials, and willingness to implement loss prevention.
Dollars: Up to $1 million per occurrence; $5 million aggregate.
Carrier: Rated “A” by A. M. Best. Admitted.
States: All, except Alaska, Fla., Hawaii., La., and Miss.
Contact: David Edison, senior vice president, sales, marketing at 503-833-1696 or e-mail, dedison@argonautgroup.com.
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