New Markets

N.J. Coastal Property
Nuts & Bolts: McSweeny Agency of New Jersey is offering coverage on boardwalk stores, ocean front, bay front, condos, dwellings, and seasonal commercial properties.

Dollars: $100,000 to $1 million.
Carrier: Rated “A+” by A.M. Best. Non-admitted.

States: New Jersey.
Carrier: Richard McSweeny at 609-387-0101 or e-mail rmcsweeny@mcsweenyagency.com.

Trucking
Nuts & Bolts: AIX Group, Inc., a specialty insurance holding company, has formed a program to provide automobile physical damage coverage to commercial trucking operations. This program will be targeting operations with above average loss experience and fleets between five and 75 units. Commercial light, medium, heavy and extra heavy trucks, tractors, trailers or semi-trailers up to ten years old may be insured. AIX Group will source this business through agents with a minimum of $100,000 in controlled APD premiums in the trucking sector.

Dollars: Up to $250,000 per unit; maximum total insurable values per schedule $5 million
Carrier: Nova Casualty Co. rated “A-” VII by A.M. Best. Admitted.
States: Ariz., Fla., Iowa, Idaho, Ill., Ind., Kan., La., Maine, Mich., Mo., Neb., Nev., Ohio, Penn., S.C., Tenn., Utah, Wis., Wyo., Calif.
Contact: Jeff Moran at 1-860-683-9876 or e-mail jmoran@aixgroup.com.

Health Clubs & Fitness Facilities
Nuts & Bolts: K&K Insurance Group offers a complete line of programs for health and fitness operations including health clubs, sport clubs, fitness centers, wellness clubs, racquet and tennis clubs, gyms, exercise studios, circuit training studios, and fitness instructors.

Dollars: Up to $10 million.
Carrier: Great American Assurance and Nationwide Mutual, rated “A” and “A+” respectively by A.M. Best. Admitted.
States: All
Contact: Marketing at 866-554-4636 or e-mail KK_general@kandkinsurance.com.

Small Public Companies’ D&O
Nuts & Bolts: The Chubb Group of Insurance Companies has introduced specialized directors and officers liability insurance for publicly traded companies with market capitalizations of $100 million or less. These “micro-cap” coverage enhancements can be added to Chubb’s D&O liability insurance policy. Micro-cap D&O coverage highlights include: Independent directorship liability, which may help a company attract, retain and protect outside directors by offering up to an additional $1 million of coverage outside the D&O liability insurance policy limit for independent directors; amended exclusionary conduct wording that requires final adjudication to establish fraud and illegal personal profit; a definition of claim enabling the policy to be triggered if an insured person is investigated by a regulatory or law enforcement authority. Also Chubb’s non-rescindable endorsement is designed to provide full severability and is completely non-rescindable for all D&O policy insuring clauses.

Dollars: Up to $25 million.
Carrier: Rated “A++” by A. M. Best. Admitted.
States: All
Contact: Tony Galban at 908-903-4590 or e-mail galbanT@chubb.com.