Insurance Program Results

20 of 25 Showing

 

Roof Claims Drive Property Pricing, Coverage Exclusions

Hail claims, an aging infrastructure and several unfavorable court rulings in the past five years will push carriers to exclude or tighten underwriting coverage for roofs within commercial property policies. Several court rulings during the past five years have pointed out the vagueness of language in insurer’s policies regarding claims of roof damage, and lawyers will now commonly go to bat for insureds in pursuing related property damage claims.

A sizable number of hail claims last year give rise to concerns that aging properties will be more susceptible to weather-related damage. Most insurers have developed or will add endorsements that exclude several types of repair from policies. Typically carriers will refuse to pay for the replacement or repair of overlaid roofs, replacement or repair of cosmetic damage, and claims filed outside a defined period following a storm. These new provisions will also specify how the roof in question will be valued. A recent study found that the majority of insured roofs are reported as newer than they actually are. This misreporting costs an estimated $2.5 billion industry wide per year.  (1/19/15)

Condominium Association Boiler & Machinery Program

Administered By: Coastal Insurance Underwriter

Distribution: MGU

Industries:

Apartments, Commercial Real Estate, Commercial Real Estate (Multi-Family), Community Associations, Habitational, Homeowners/Condo Associations

Carriers: Travelers Cos.

Coverage: Equipment Breakdown, Excess, Machinery & Equipment, Umbrella/Excess

Limits: up to $200 Million ($50 MM per location TIV)

Real Estate Professional Liability

Administered By: Protective Specialty Insurance

Distribution: Carrier Direct

Industries:

Builders Risk/Home Builders, Commercial Real Estate, Contractors, Habitational, Hospitality (Hotels/Motels), Residential Real Estate (Directors/Managers)

Carriers: Protective Insurance Co., Protective Specialty Insurance Co.

Coverage: General Liability, Tenants' Legal Liability

Limits: $250,000 - $5,000,000 (Aggregated Personal injury coverage Innocent insured coverage Punitive damages coverage Defense costs for discrimination liability: $100,000 (minimum) Lockbox liability: $10,000 (minimum) Failure to disclose pollutants coverage: $50,000 (minimum) Predecessor and successor firm coverage Mediation provision reduces retention Automatic subsidiary coverage Defense costs for licensing proceedings: $10,000 (minimum) Supplemental limit of liability for expense reimbursement of $250 per day with a $5,000 aggregate limit Automatic 60-day extended reporting period)

SPILLS Real Estate

Administered By: Ironshore

Distribution: Direct/Broker

Industries:

Commercial Real Estate, Residential Real Estate (Directors/Managers)

Carriers: Ironshore Inc.

Coverage: Business Interruption, Environmental Impairment Liability , Environmental/Pollution Liability, Property

Limits: $1 million - $50 million

Active Shooter/Deadly Weapon Liability

Administered By: McGowan Program Administrators

Distribution: Program Administrator

Industries:

Churches/Religious Institutions/Organizations, Colleges & Universities, Commercial Real Estate, Community Associations, Education & Nonprofit, Film Risks, Political Risk (Terrorism/War/General), Private Companies, Public Companies , Retail, Stage Risks

Carriers: Lloyd's of London

Coverage: Deadly Weapon Protection Liability

Limits: $50,000 - $20 million

Construction All Risk (CAR)

Administered By: Arch Insurance Group

Distribution: Direct/Broker

Industries:

Aviation Risks & Airports, Builders Risk/Home Builders, Commercial Real Estate, Commercial Real Estate (Industrial)

Carriers: Arch Insurance Co.

Coverage: Construction/Builders Risk, Excess, Umbrella/Excess

Limits: up to $25 million

Employment Practices Liability

Administered By: NAS Insurance Services

Distribution: MGA

Industries:

Accountable Care Organizations (ACOs), Acupuncturist, Allied Health, Builders Risk/Home Builders, Chiropractors, Commercial Real Estate, Commercial Real Estate (Industrial), Commercial Real Estate (Office), Commercial Real Estate (Retail), Contractors, Dentists, Farm/Ranch/Agribusiness, Health Maintenance Organization (HMO), Healthcare Systems, Hospitals, Long-Term Care Facilities (LTC), Manufacturers/Manufacturing Risks, Massage Therapy/Therapists, Opticians, Pharmacies, Physicians, Podiatrists, Psychologists, Real Estate Agent/Broker, Real Estate Appraiser, Research/Research Organizations (Clinical, Etc.), Therapy/Therapists

Carriers: Lloyd's of London

Coverage: Employment Practices Liability (EPL)

Limits: $100,000 - $2 million

General Property

Administered By: StarStone

Distribution: Carrier Direct

Industries:

Banks, Colleges & Universities, Commercial Real Estate, Financial Institutions, Healthcare Systems, Manufacturers/Manufacturing Risks, Pharmaceutical Risks

Carriers: StarStone National Insurance Co., StarStone Specialty Insurance Co.

Coverage: Commercial Property

Limits: - - - (Please inquire)

Manufacturers & Contractors

Administered By: James River Insurance Co.

Distribution: MGA

Industries:

Artisan & Trade Contractors, Commercial Real Estate, Construction Equipment/Machinery/Materials, Contractors, Janitors/Janitorial, Manufacturers/Manufacturing Risks, Residential Facilities, Staffing Agencies

Carriers: James River Insurance Co.

Coverage: Excess, General Liability, Products & Complete Operations Liability

Limits: up to $2 Million (Up to $1 Million per occurrence / $2 Million Aggregate. )

Prime Umbrella

Administered By: New Empire Group

Distribution: MGA

Industries:

Commercial Real Estate

Carriers: AIG, Chubb Group of Insurance Cos.

Coverage: Excess, Umbrella/Excess

Limits: $1,000,000 - $100,000,000

Real Estate Business

Administered By: Pearl Cos.

Distribution: Program Administrator

Industries:

Commercial Real Estate

Carriers: XL Insurance Co.

Coverage: Business Personal Property/Business, General Liability, Professional Liability

Limits:

Site Pollution Liability Insurance Policy (SPL)

Administered By: XL Catlin (Formerly Catlin)

Distribution: Direct/Broker

Industries:

Chemical Manufacturers/Distributors, Commercial Real Estate, Contractors, Energy Companies

Carriers: Catlin Specialty Insurance Co., XL Catlin Insurance Co., Inc.

Coverage: Business Interruption, Environmental/Pollution Liability, Property

Limits: up to $10 Million (Excess)

ACE Catastrophe Management 2.5

Administered By: Chubb Ltd. (Formerly ACE Group)

Distribution: Carrier Direct

Industries:

Banks, Commercial Real Estate, Energy Companies, Financial Institutions, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks

Carriers: ACE Group

Coverage: Accident & Health, Property

Limits: up to $2.5 million

ACE Express(SM) Umbrella

Administered By: Chubb Ltd. (Formerly ACE Group)

Distribution: Carrier Direct

Industries:

Banks, Bowling Centers, Commercial Real Estate, Financial Institutions, Golf Courses/Country Clubs, Habitational, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks, Restaurants, Retail

Carriers: ACE Group

Coverage: Commercial Auto, Employee Benefits Liability, Employment Practices Liability (EPL), General Liability, Liquor Liability

Limits: up to $1 million (Employee Benefits Liability- aggregate), up to $1 million (Products-Completed Operations Aggregate), up to $2 million (General liability- aggregate), up to $1 million (Employee Benefits Liability- per occurrence), up to $500,000 (Employers liability), up to $1 million (General liability- per occurrence), up to $10 million (Up to $25 million available by referral to an ACE Excess underwriter), up to $1 million (Liquor liability)

ACE SPECTRA® for Properties

Administered By: Chubb Ltd. (Formerly ACE Group)

Distribution: Carrier Direct

Industries:

Commercial Real Estate, Habitational, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks

Carriers: ACE Group

Coverage: Business Interruption, Excess, Natural Disaster, Property, Umbrella/Excess

Limits: up to $25 million

E&S Retail Property

Administered By: Zurich

Distribution: Carrier Direct

Industries:

Commercial Real Estate, Commercial Real Estate (Retail)

Carriers: Zurich

Coverage: Excess, Natural Disaster, Umbrella/Excess

Limits: up to $25 Million (Excess - more limit available), up to $15 Million (Program Limits CSL first dollar)

Property

Administered By: Chubb Ltd. (Formerly ACE Group)

Distribution: Carrier Direct

Industries:

Advertising/Printers/Authors, Casinos, Commercial Real Estate, Financial Consultants/Planners, Healthcare Systems, Hospitality (Hotels/Motels), Lawyers, Manufacturers/Manufacturing Risks, Public Relations, Retail, Technology Risks

Carriers: ACE Group

Coverage: Excess, Property, Umbrella/Excess

Limits: up to $25 million (Earthquake limits for California and Japan), up to $200 million

 

Commercial Lines

Administered By: Orchid Specialty

Distribution: MGA

Industries:

Commercial Real Estate, Habitational, Mercantile, Restaurants, Retail, Small Businesses

Carriers: Chubb Group of Insurance Cos.

Coverage: Accounts Receivable, Business Income/Extra Expense, Business Interruption, Business Personal Property/Business, Employment Practices Liability (EPL), Equipment Breakdown, General Liability, Legal Assistance, Placed Personnel Dishonesty, Products Liability

Limits: up to - $5 million (Maximum TIV per location)

Cyber & Terror Response

Administered By: STARR Cos.

Distribution: Direct/Broker

Industries:

Commercial Real Estate, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks, Restaurants, Retail

Carriers: Starr Indemnity & Liability Co.

Coverage: Business Interruption, Cyber Liability, Political Risk/Terrorism, Violent Event Coverage

Limits: up to $25 million

Excess Casualty

Administered By: Tokio Marine Specialty Ins. Co.

Distribution: Carrier Direct

Industries:

Commercial Real Estate, Contractors, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks, Public Entities, Retail

Carriers: Philadelphia Indemnity Insurance Co., Tokio Marine Specialty Insurance Co.

Coverage: Auto Liability , Environmental/Pollution Liability, Excess, General Liability

Limits: up to - $25 million (In Capacity), up to - $10 million (Lead Limits)

FranchisorSuite PRO

Administered By: FranchisePeril

Distribution: Program Administrator

Industries:

Commercial Real Estate, Commercial Real Estate Manager/Director, Construction Equipment/Machinery/Materials, Real Estate Risks (Municipal Property)

Carriers: Arch Specialty Insurance Co.

Coverage: Directors & Officers (D&O), E&O, Employment Practices Liability (EPL), Fiduciary Liability

Limits: up to $25 million