InsurBanc rolls out product referral program for qualified agents
InsurBanc has introduced a new product referral program that allows independent insurance agencies to offer their clients access to four banking products: a business Visa card, an equipment lease-financing program, a personal Visa card and student loans.

Qualified agencies can market the products via turnkey marketing programs provided by InsurBanc, which handles all processing, applications and fulfillment. Qualified agencies earn a fee for each referral resulting in a sale.
Agencies qualify by completing an online bank training program that allows the agency to refer any of the offered products; providing a professional liability insurance certificate covering referral activities; and signing a referral agreement.
InsurBanc is headquartered in Farmington, Conn., and is a member of the Federal Deposit Insurance Corp. The bank, which operates in all 50 states, was jointly developed by the Independent Insurance Agents & Brokers of America and the W. R. Berkley Corp., an insurance holding company. InsurBanc offers a complete line of business products and services for independent insurance agents, including acquisition and perpetuation financing, cash management and remote deposit. InsurBanc also offers a full range of consumer banking products such as free checking, certificates of deposit, home equity lines of credit and residential mortgages.
For more information, contact Susan Smith at 860-674-2305, or visit www.insurbanc.com.
Irwin Siegel adds new business classes to social service program
Irwin Siegel Agency Inc. (ISA), a specialty underwriter of package programs for the social services field, recently added several classes to their program, including Head Start programs, community action agencies, Big Brother/Big Sister organizations, Boys and Girls Clubs and nonprofit rural transportation for the elderly or disabled.
These new programs are written through member companies of AIG, an A+ rated carrier, and include:
o Comprehensive package policy, including property, general liability, professional, abuse/molestation, crime, inland marine auto and umbrella
o Abuse/molestation limits of $1million/$1million in underlying; umbrella limits available in addition to underlying limits
o ISA support staff to ensure proper and timely claims handling
o Special events coverage
o Attorneys specializing in industry-specific handling claims
Irwin Siegel Agency offers insurance solutions for provider agencies within the social service, developmental disabilities, addiction treatment and mental healthcare fields. Package programs include general and professional liability, abuse, auto, crime, property and umbrella. ISA programs are available exclusively through independent agents and brokers.
For more information, visit www.siegelagency.com. Fireman's Fund offers expanded yacht coverage
Fireman's Fund Insurance Co. is offering expanded yacht coverage to its prestige yacht and watercraft policies to protect against uninsured/underinsured vessels, vermin damage and other exposures. The expanded coverage is offered for both uninsured and underinsured watercraft.
Fireman's Fund also announced a lower electronics deductible, expanded coral reef and sea grass coverage, and protection in case of total loss resulting from vermin damage. Vermin damage is of particular concern in the Pacific Northwest, where muskrats and otters may chew through exposed rubber portions of engine exhausts. Other expansions include protection against damage to mopeds and scooters, as well as passports and other necessary forms of identification while passengers are on board.
These additions complement the pre-existing policies that feature agreed value (to protect against depreciation), coverage for captain and crew under admiralty law including the Jones Act, protection against pollution fines up to $25,000 including “sudden and accidental” events, and a very broad definition of personal effects.
For more information, contact Janet Ruiz at 415-899-5381, or visit www.firemansfund.com. Arrowhead announces new carrier for agent E&O product
Arrowhead General Insurance Agency Inc. has announced that its independent property and casualty insurance agent E&O product will be underwritten with an A- rated carrier by A. M. Best Co. Offered nationwide, it is designed for agencies with up to $25 million in revenue. Eligible agencies include retailers, wholesalers, managing general agencies, specialist and hard-to-place firms.
Coverage is offered on both a primary and excess basis. Limits are up to $5 million for each claim with a minimum premium of $5,000. Policy highlights include punitive damages, predecessor firm and personal injury coverage. There is also a mediation provision, which reduces the retention.
Arrowhead General Insurance Agency Inc., headquartered in San Diego, is an independent national insurance program manager for commercial, personal and specialty products and is one of the largest privately held general agencies in the United States.
For more information, contact the Arrowhead Professional Liability Program at 201-944-7000 or visit arrowheadgrp.com.
Ohio Casualty introduces educator discount in Ohio
Ohio Casualty announced its new Educator Discount Program in Ohio, available to its auto and home policyholders. All licensed teachers or school administrators in Ohio who obtain coverage from Ohio Casualty will save 5 percent on their homeowner premium and 3 percent on their auto premium, and may also qualify for further discounts.
Ohio Casualty insures 413 of the 795 public school districts in Ohio, or approximately 52 percent of all public school districts. The company also insures 57 private schools in Ohio.
Ohio Casualty is also introducing the following discounts to its new comprehensive auto and home insurance products in Ohio:
o Customer loyalty discount for long-time policyholders
o New home buyer discount
o Home renovation discount
o Nonsmoker discount
o Expanded Ultra Plus endorsement for homeowners policies, including identity theft coverage and 125 percent replacement cost coverage
o Diminishing deductibles for homeowners and auto collision coverage to reward loss-free experience
o First-claim forgiveness up to $10,000 on auto policies
o Homeowners and auto package discount, with further cross-policy discounts for policyholders who remain claims-free
Headquartered in Fairfield, Ohio, Ohio Casualty provides insurance in Delaware, Kentucky, Maryland, Ohio, Pennsylvania, Virginia, Washington DC, and West Virginia.
For more information, visit www.ocas.com. Lexington introduces LexElite Eco-Homeowner insurance
Lexington Insurance Co., an American International Group company, has introduced LexElite Eco-Homeowner insurance for homeowners generating their own power using geothermal, solar or wind systems. LexElite Eco-Homeowner also provides coverage for eco-landscaping–plantings used to provide shade or influence wind movement to reduce heating and cooling expenses.
LexElite Eco-Homeowner, available as an endorsement to the LexElite homeowners policy, responds to the unique risks faced by homeowners who generate their own power and feed surplus energy back into the local power grid. If a homeowner's alternative energy system has a covered outage, LexElite Eco-Homeowner protects against lost income generated from selling surplus energy back to the local energy company and will cover the extra expenses incurred to purchase replacement electricity. The policy also covers expenses for inspection, reconnection or permitting fees assessed by a utility or governmental authority when the homeowner's alternative energy system is brought back online.
For more information, contact David Valzania at 617-330-4419 or [email protected]. Schinnerer's nonprofit D&O announces policy enhancements
Victor O. Schinnerer & Co. Inc. announced several changes to its nonprofit D&O policy, including new classes of business and easier renewals.
The new business classes include convention and visitors bureaus, drug and alcohol counseling and rehabilitation centers, organizations serving the developmentally disabled, court-appointed special advocates and community development corporations.
Schinnerer can provide quotes for most organizations without an application; agents need only make a request to bind. Organizations must have $7,500 or less in premium, $3 million or less in limit and no claims during the past three years. The nonprofit D&O easy renewal program is available to all classes of business except golf clubs.
Schinnerer also is offering higher commissions to brokers on any new D&O business that originates from the online application.
Victor O. Schinnerer & Co. Inc. is an underwriting manager of professional liability and specialty insurance programs, serving more than 55,000 insureds in various specialty industries through independent agents and brokers.
For more information, visit www.schinnerer.com. OTHER MARKET NEWS
o A subsidiary of Palisades Safety and Insurance Association has agreed to acquire National Atlantic Holdings Corp., including its subsidiary, The Proformance Insurance Co. Palisades is the fifth-largest personal automobile carrier and second-largest independent agency writer of automobile insurance in New Jersey.

The merger, subject to regulatory and National Atlantic shareholder approvals, will give Palisades and its independent agents the opportunity to expand product offerings beyond private passenger auto.
Palisades is a New Jersey-only, independent agency company specializing in providing competitive rates for New Jersey drivers. Insurance is underwritten by Palisades Safety and Insurance Association and Palisades Insurance Co.
For more information, visit http://palisades.com. o Philadelphia Consolidated Holding Corp. (PHLY) has acquired Gillingham & Associates Inc., a program manager specializing in commercial property and casualty insurance for the outdoor recreation and hospitality industries.
Through this acquisition, PHLY expands its product offering for the outdoor recreation and hospitality industries. In addition to campgrounds, RV parks and guides and outfitters products, coverage will now also be provided for fishing and hunting lodges, resorts and lodges, dude and guest ranches, hunting preserves, rod and gun clubs, hunting leases, bed and breakfasts, shooting ranges, whitewater rafting, ATV and snowmobile tours, and trap, skeet and sporting clay ranges.
For more information, contact Paula Negro at 800-873-4552, ext. 3227. o AIG Private Client Group, a division of the personal lines property and casualty insurance subsidiaries of American International Group Inc, has expanded its Hurricane Protection Unit to serve its policyholders in Hillsborough County, Fla; Nassau County, N.Y.; and Atlantic, Cape May, Monmouth and Ocean Counties in New Jersey.
Launched in July 2006, the Hurricane Protection Unit provides clients with preseason disaster planning and post-storm response. These services are complimentary for eligible AIG Private Client Group policyholders.
AIG Private Client Group provides insurance products and services for high-net-worth individuals and their families, with products underwritten by AIG member companies.
For more information, visit www.aig.com. o Merchants Mutual Insurance Co.'s recently formed subsidiary, Merchants Preferred Insurance Co., is now accepting business in Massachusetts.
Merchants Mutual and Merchants Preferred offer personal and commercial insurance through a network of more than 600 independent insurance agents throughout the Northeast and North Central United States. With corporate headquarters and regional operations in Buffalo, N.Y., Merchants operates offices in Hauppauge, N.Y.; Albany, N.Y.; Moorestown, N.J.; Manchester, N.H., and Columbus, Ohio.
For more information, visit www.merchantsgroup.com.