New Markets
The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com.
Misc. Medical Malpractice
Market Detail: NAS Insurance Services Inc. gives agents the ability to provide stand-alone medical malpractice coverage. Coverage can also be provided packaged with general liability, and excess liability up to $5 million is also available. Special features include incident reporting and full prior acts coverage. The policy can be endorsed to make defense in addition to the limits of protection and to extend coverage for sexual abuse and molestation up to the full limits of liability. Punitive damages are automatically included where insurable by law. Surgery centers, MRI facilities and dialysis centers are also eligible. Minimum premiums begin at $2,000 and deductibles start at $1,000.
Available limits: $1 million to $3 million (with the availability of excess coverage).
Carriers: HCC and HCS. “A” rated by A.M. Best. Non-admitted.
States: Ala., Ariz., Ark., Calif., Colo., Conn., Del., D.C., Fla., Ga., Idaho, Ill., Ind., Iowa, Kan., Ky., La., Maine, Md., Mass., Mich., Minn., Miss., Mo., Mont., Neb., Nev., N.H., N.J., N.M., N.Y., N.C., N.D., Ohio, Okla., Ore., Pa., R.I., S.C., S.D., Tenn., Texas, Utah, Vt., Va., Wash., Wis. and Wyo.
Contact: David Leventhal at 818-808-4464 or e-mail dleventhal@nasinsurance.com.
Golf Courses and Country Clubs
Market Detail: Fairway Underwriters Inc. allows agents access to an insurance program for daily fee golf courses and country clubs. Fairway’s Club Champion CMP policy can now be extended the same coverage to selected distressed courses which are for sale, in foreclosure or in receivership. Program highlights include: tee to green property coverage, herbicide/pesticide pollution liability, non-reporting equipment coverage, rating based on rounds played, along with many other coverages. Workers’ compensation, umbrella liability and directors’ and officers’ coverage are also available. Some coastal courses are eligible for wind coverage. Minimum premiums begin at $2,500.
Available limits: As needed.
Carriers: QBE. “A” rated by A.M. Best. Admitted.
States: Ala., Ariz., Ark., Calif., Colo., Conn., Del., D.C., Fla., Ga., Idaho, Ill., Ind., Iowa, Kan., La., Maine, Md., Mass., Mich., Minn., Miss., Mo., Mont., Neb., N.H., N.J., N.M., N.Y., N.C., N.D., Ohio, Okla., Ore., Pa., R.I., S.C., S.D., Tenn., Texas, Utah, Vt., Va., Wash., W. Va., Wis. and Wyo.
Contact: Fran Coulter at 800-662-2141 or e-mail fcoulter@fairwayunderwriters.com.
Private Money Lenders REO/FP
Market Detail: Innovative Risk Solutions Inc. offers agents a source for their private lending clients in need of an REO and “forced placed” coverage market. Private, non-bank lenders need a market for property protection when/if the mortgagor fails to secure the correct property protection. In this program, rehab property and vacant property are acceptable. Policies can be administered online and the insured has instant access to an Evidence of Insurance. Monthly billing is available. Deductibles begin at $2,500.
Available limits: Up to $100 million.
Carriers: Lloyd’s. “A” rated by A.M. Best. Non-admitted.
States: All.
Contact: John Watt at 954-931-4795 or e-mail jwatt@irs-incorporated.com.
Mortgage Broker/Banker Professional Liability
Market Detail: Gresham & Associates has facilities for mortgage broker/banker professional liability which includes sub-prime loans and prior acts coverage. Investor required errors and omissions coverage is also available through a Special Mortgage Bankers Bond naming the investor as the loss payee. Minimum premiums begin at $2,500.
Available limits: $1 million to $5 million.
Carriers: Unable to disclose. “A” rated by A.M. Best. Non-admitted.
States: All.
Contact: Art Hays at 888-473-7444 or e-mail ahays@greshaminc.com.
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