New Markets

Trucking Auto Physical Damage
Nuts & Bolts: AIX Group Inc., a specialty insurance holding company, has formed a new 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 10 years old may be insured. AIX Group will source this business through agents with a minimum of $100,000 in 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 860-683-9876 or e-mail jmoran@aixgroup.com.

Banking Engagement Insurance
Nuts & Bolts: National Union Fire Insurance Company of Pittsburgh, Pa., launched its Investment Banking Engagement Insurance (IBEI) policy, a new type of professional liability insurance policy for investment banks to insure a specific transaction against errors and omissions (E&O) claims. IBEI can be used for any type of investment banking engagement including raising equity and debt in the capital markets and providing advisory services for mergers and acquisitions. IBEI’s transaction-based approach allows investment banks, especially those mid-tier banks which may be most vulnerable to an adverse E&O event, to secure customized coverage. IBEI offers expanded protection for individuals, including the payment of defense costs, if the investment bank is financially insolvent, and limiting the application of the fraud exclusion to situations where there has been a judgment.

Dollars: Limits up to $25 million.
Carrier: AISLIC and Lexington, both rated “A+” by A. M. Best. Non-admitted.
States: All.
Contact: William Vreeland at 212-458-1816 or e-mail William.vreeland@aig.com.

Apartments, Habitational, Condominiums
Nuts & Bolts: A national program manager on behalf of United National Insurance Group is offering packages and mono-line general liability coverage for apartments, habitational, condominiums.

Dollars: $3 million to $25 million limits. Deductible is $5,000. Minimum premium, $15,000. Maximum premium, $1 million. Minimum premium general liability is $7,500.
Carrier: United National Group of Insurance Cos., rated “A” by A. M. Best. Admitted and non-admitted.
States: All, except Alaska and Hawaii.
Contact: Steven Gross at 973-467-4467 or e-mail at sgross@metroins.com.

Directors and Officers Liability
Nuts & Bolts: Navigators Pro is offering directors and officers liability and employment practices liability for all industry sectors.

Dollars: $1million to $10 million limits. Minimum deductible is $10,000.00. Minimum premium is $5,000; maximum premium, $500,000.
States: All.
Carrier: Navigators Insurance Co., “A” by A.M. Best. Admitted.
Contact: Christopher Duca at 212-613-4305 or e-mail at cduca@navg.com.