Markel American announces excess flood program
Markel American Insurance Co. announced an admitted excess flood program for residential and nonresidential properties, available in Alabama, Arizona, California, Colorado, Mississippi, North Carolina, Oregon, Pennsylvania, South Carolina and Virginia. The program provides coverage in excess of the National Flood Insurance Program and will be offered through Advanced Insurance Coverages Inc., a wholly owned subsidiary of National Flood Services Inc. NFS provides third-party flood insurance administration services to many property-casualty companies participating in NFIP.
For more information, visit www.markelamerican.com.
OneBeacon has products liability policy for medical technology businesses
OneBeacon Insurance Group introduced @vantage for MedTech, a policy offering products liability protection for businesses that develop, manufacture or distribute medical devices. The completed-operations coverage is designed for exposures unique to medical technology operations. Highlights include automatic extensions of coverage for vendors, scientific advisory boards and human clinical trial contractors; automatic human clinical trials coverage; coverage for representations and warranties relating to products and services; an unlimited supplemental extended reporting period; and liability extensions for sales and demonstration exposures.
The product also includes premises and operational liability, property, automobile, E&O, umbrella and workers compensation coverages. Property coverage includes research and development property, and spoilage, contamination and change in temperature.
For more information, visit www.onebeacon.com. Schinnerer announces changes to nonprofit D&O policy
Victor O. Schinnerer & Co. announced several changes and additions to its nonprofit D&O policy. New targeted classes of business include convention and visitors bureaus, drug/alcohol counseling and rehab centers, organizations serving the developmentally disabled, court-appointed special advocates and community development corporations. Policy changes include:
--Higher limits for less premium.
--A fiduciary liability endorsement with a sublimit that can be set equal to or less than the policy limit. Zero-deductible coverage is available. The additional premium for this option typically is 5% to 10%.
--Final adjudication wording, which provides protection for accused parties until final judgment.
--Specific intent for third-party sexual harassment and discrimination, and nonmonetary claims.
--An expanded outside directorship liability endorsement.
--A spousal liability endorsement that now includes domestic partners.
--Additional defense costs outside the aggregate, for additional premium.
Additionally, renewal quotes for most organizations can now be provided without an application. Agents need only request to bind. Organizations must have $7,500 or less in premium, $3 million or less in limit and no claims in the past three years. The option is available to all classes of business except golf clubs.
For more information, visit www.schinnerer.com.
OTHER MARKET NEWS
o Great American Insurance Group announced its entrance into the environmental liability insurance business. Its newly created environmental division will begin writing business in April. The division's offices will be located in Plymouth Meeting, Pa. The division will offer an array of environmental liability products on both a retail and wholesale basis, providing limits up to $25 million.
For more information, visit www.greatamericaninsurance.com.
o AIG Enviromental announced its Sustain-a-Build Initiative, a program enabling AIG Environmental customers to receive discounts of up to 10% on premiums for new pollution legal liability policies for properties certified under the U.S. Green Building Council's Leadership in Energy and Environmental Design green building rating system. The USGBC LEED Program is a nationally accepted rating system designed to certify efforts to reduce the negative impact of buildings and tenant spaces on occupants and the environment.
For more information, e-mail aigenvironmental@aig.com.
o R.E.Chaix & Associates Insurance Brokers Inc. agreed to purchase Katie Freeman Insurance Services Inc. Freeman will continue to service its book of professional liability business in San Diego, Calif.
For more information, contact Timothy Chaix at (707) 265-9788, Ext. 225, or timc@rechaixinsurance.com.
o The Swett & Crawford Group acquired Risk Reducers LLC, a wholesale insurance broker based in Little Rock, Ark., that specializes in workers compensation. Risk Reducers writes workers compensation and specialized property and casualty insurance for transportation, manufacturing and contractor risks in the Midwest and Southeast. The company also has a specialty in commercial auto and occupational accident insurance.
For more information, visit www.swett.com.
o Casualty & Surety Inc. announced the acquisition of J.C. Shannon Insurance Services. Inc. Shannon specializes in truck physical damage and cargo coverage.
For more information, visit www.csiapex.com.
o Brooke Credit Corp. unveiled its new brand initiative and visual identity, along with its new Web site, www.aleritascapital.com. The company will continue to operate under the legal name Brooke Credit Corp. for a short period, before becoming known as Aleritas Capital.
For more information, visit www.aleritascapital.com.
Markel American Insurance Co. announced an admitted excess flood program for residential and nonresidential properties, available in Alabama, Arizona, California, Colorado, Mississippi, North Carolina, Oregon, Pennsylvania, South Carolina and Virginia. The program provides coverage in excess of the National Flood Insurance Program and will be offered through Advanced Insurance Coverages Inc., a wholly owned subsidiary of National Flood Services Inc. NFS provides third-party flood insurance administration services to many property-casualty companies participating in NFIP.
For more information, visit www.markelamerican.com.
OneBeacon has products liability policy for medical technology businesses
OneBeacon Insurance Group introduced @vantage for MedTech, a policy offering products liability protection for businesses that develop, manufacture or distribute medical devices. The completed-operations coverage is designed for exposures unique to medical technology operations. Highlights include automatic extensions of coverage for vendors, scientific advisory boards and human clinical trial contractors; automatic human clinical trials coverage; coverage for representations and warranties relating to products and services; an unlimited supplemental extended reporting period; and liability extensions for sales and demonstration exposures.
The product also includes premises and operational liability, property, automobile, E&O, umbrella and workers compensation coverages. Property coverage includes research and development property, and spoilage, contamination and change in temperature.
For more information, visit www.onebeacon.com. Schinnerer announces changes to nonprofit D&O policy
Victor O. Schinnerer & Co. announced several changes and additions to its nonprofit D&O policy. New targeted classes of business include convention and visitors bureaus, drug/alcohol counseling and rehab centers, organizations serving the developmentally disabled, court-appointed special advocates and community development corporations. Policy changes include:
--Higher limits for less premium.
--A fiduciary liability endorsement with a sublimit that can be set equal to or less than the policy limit. Zero-deductible coverage is available. The additional premium for this option typically is 5% to 10%.
--Final adjudication wording, which provides protection for accused parties until final judgment.
--Specific intent for third-party sexual harassment and discrimination, and nonmonetary claims.
--An expanded outside directorship liability endorsement.
--A spousal liability endorsement that now includes domestic partners.
--Additional defense costs outside the aggregate, for additional premium.
Additionally, renewal quotes for most organizations can now be provided without an application. Agents need only request to bind. Organizations must have $7,500 or less in premium, $3 million or less in limit and no claims in the past three years. The option is available to all classes of business except golf clubs.
For more information, visit www.schinnerer.com.
OTHER MARKET NEWS
o Great American Insurance Group announced its entrance into the environmental liability insurance business. Its newly created environmental division will begin writing business in April. The division's offices will be located in Plymouth Meeting, Pa. The division will offer an array of environmental liability products on both a retail and wholesale basis, providing limits up to $25 million.
For more information, visit www.greatamericaninsurance.com.
o AIG Enviromental announced its Sustain-a-Build Initiative, a program enabling AIG Environmental customers to receive discounts of up to 10% on premiums for new pollution legal liability policies for properties certified under the U.S. Green Building Council's Leadership in Energy and Environmental Design green building rating system. The USGBC LEED Program is a nationally accepted rating system designed to certify efforts to reduce the negative impact of buildings and tenant spaces on occupants and the environment.
For more information, e-mail aigenvironmental@aig.com.
o R.E.Chaix & Associates Insurance Brokers Inc. agreed to purchase Katie Freeman Insurance Services Inc. Freeman will continue to service its book of professional liability business in San Diego, Calif.
For more information, contact Timothy Chaix at (707) 265-9788, Ext. 225, or timc@rechaixinsurance.com.
o The Swett & Crawford Group acquired Risk Reducers LLC, a wholesale insurance broker based in Little Rock, Ark., that specializes in workers compensation. Risk Reducers writes workers compensation and specialized property and casualty insurance for transportation, manufacturing and contractor risks in the Midwest and Southeast. The company also has a specialty in commercial auto and occupational accident insurance.
For more information, visit www.swett.com.
o Casualty & Surety Inc. announced the acquisition of J.C. Shannon Insurance Services. Inc. Shannon specializes in truck physical damage and cargo coverage.
For more information, visit www.csiapex.com.
o Brooke Credit Corp. unveiled its new brand initiative and visual identity, along with its new Web site, www.aleritascapital.com. The company will continue to operate under the legal name Brooke Credit Corp. for a short period, before becoming known as Aleritas Capital.
For more information, visit www.aleritascapital.com.
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