My New Markets

August 19, 2013
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Medical Devices / Products
Market Detail: James River Insurance Co. offers products liability, general liability and professional liability with $5 million primary limits and unsupported excess available. Other coverage features include: claims made and reported; prior acts available; and vendor’s coverage. Premiums start at $5,000. Target risks are small- to medium-sized risks with an average premium of $20,000. Policy deductibles of $2,500 on some classes.
Available limits: As needed.
Carrier: James River.
States: All states.
Contact: Customer service at 804-289-2700.

Explosives
Market Detail: Nobel Insurance Services, a division of the Lancer Insurance Co. has a program focused on the commercial explosives industry. Nobel provides general liability, automobile and excess liability coverages to manufacturers, distributors and users of explosives designed for the construction and mining industry. Limits up to $10 million.
Available limits: As needed.
Carrier: Lancer Insurance Co.
States: All states.
Contact: Charlie Pollard at 800-766-6235 or e-mail: cpollard@lancerinsurance.com.

Subcontractors
Market Detail: Brazos Specialty Risk Inc. has an exclusive market in Texas for residential and commercial subcontractors. Program highlights include: $1,500 minimum premium for most classes; commercial and residential contractors; no tract limitations and no restrictions on the amount of work subcontracted to others; up to 3 years for WRAP and project specific policies (minimum premium starting at $25,000); extended completed ops available on both.
Available limits: Minimum $1 million, maximum $2 million.
Carrier: Unable to disclose, non-admitted.
States: All states except Alaska and Hawaii.
Contact: Customer service at 972-484-4100.

Reclamation Bonds
Market Detail: Surety One Inc. has reclamation bonds for BLM and all state obligees. The company will provide a fair premium and collateral terms, regardless of operation. All risks are eligible including: coal; petroleum; sand; gravel and quarries; and all kinds of mines and extraction techniques. Hydraulic fracturing “fracking” also is welcomed.
Available limits: Minimum $5,000, maximum $50 million.
Carrier: Unable to disclose, admitted.
States: All states.
Contact: Customer service at 800-373-2804.

MGA/Program Managers Professional Liability
Market Detail: Synergy Professional Associates is the program administrator for Beazley Lloyd’s Syndicates 623 and 2623 for professional liability for managing general agents, managing general underwriters, program administrators and specialty insurance intermediaries. The program is focused on insurance intermediaries who derive the majority of their revenue from program business. Guidelines are broad and can consider producers who generate business from single or multiple distribution platforms. Coverage can be individually crafted. Minimum premium starts at $7,500 and coverage is available in all 50 states.
Available limits: Minimum $5 million.
Carrier: Lloyd’s – Beazley Syndicates 623/2623.
States: All states.
Contact: Ira Drawer at 973-995-0500 or e-mail: irad@synergy-ins.com.

Motor Truck Cargo
Market Detail: Guardian Insurance Wholesalers Inc. offers a motor truck cargo market targeting truckers with 25 or less power units, more than three years experience, and carriers of general commodities with values less than $100,000 per load. Clean, new ventures are welcome. Exclusive in Arkansas, Kentucky, Indiana, Iowa, Illinois, Michigan and Missouri.
Available limits: Minimum $25,000, maximum $250,000.
States: All states except Ala., Alaska, Dela., Ga., Hawaii, La., Md., Miss., Ohio, Pa., Va., and W.Va.
Contact: Customer service at 800-325-9059.