Insurance Program Results
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 |
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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) |
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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) |
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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 |
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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) |
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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 |
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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 |
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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 |
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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 |
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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 |
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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 |
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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 |
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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 |
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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 |
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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) |
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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 |
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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 |
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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 |
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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 |
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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) |
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Carriers: Arch Specialty Insurance Co.
Coverage: Directors & Officers (D&O), E&O, Employment Practices Liability (EPL), Fiduciary Liability
Limits: up to $25 million