Insurance Program Results

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Auctioneers: Transit Risks Grow

Look for slight but steady growth in the auctioneer market fueled by interest in coverage from small online auction houses. The stability of this industry will limit rate changes to minor adjustments, primarily related to the implementation of higher deductibles. Overall demand will likely remain stable while capacity remains adequate.

Carriers may give greater consideration to form changes as the year wears on and the number of auctions held online increases with the possibility that growth within this sub segment could outpace that of brick-and-mortar auction houses. The popularity of using the Internet as a medium for auctions has given rise to more cyber liability coverage, though, to date, data breaches have not been a large exposure in this segment. The leading emerging exposure for online auctions is international transit risk, for which demand has been on the upswing. Packing and shipping, especially internationally, are expected to become a growing underwriting challenge due to increasing values of antiquities. (1/26/15)

Auctioneers

Administered By: Markel

Distribution: Direct/Broker

Industries:

Auctioneers

Carriers: Markel Corp.

Coverage: Commercial Property, Inland Marine

Limits: up to $50 million

Miscellaneous E&O

Administered By: CapSpecialty

Distribution: MGU

Industries:

Appraisers , Arbitrators & Mediators, Auctioneers, Consultants/Consulting Risks, Interior Designers, Landscape Design/Landscaping/Lawn Service, Miscellaneous Risks, Mortuary/Funeral Services/Directors, Staffing Agencies, Tax Preparers, Translation Services, Trustees

Carriers: Capitol Specialty Insurance Corp.

Coverage: Errors & Omissions (E&O), Excess

Limits: up to $5 million (Primary or Excess)

Miscellaneous Errors & Omissions

Administered By: NAS Insurance Services

Distribution: MGA

Industries:

Advertising/Printers/Authors, Answering Services, Arbitrators & Mediators, Auctioneers, Auto/Car Dealerships, Back Office Services, Commercial Real Estate Manager/Director, Consultants/Consulting Risks, Court Reporting, Disaster Recovery, Employment Practices, Events and Event Planners, Executive Coaches/Mentors, Farm/Ranch/Agribusiness, Graphic Designers, Interior Designers, Landscape Design/Landscaping/Lawn Service, Miscellaneous Risks, Mortuary/Funeral Services/Directors, Notary Public, Research/Research Organizations (Clinical, Etc.), Security/Investigation/Alarm Systems, Tax Preparers, Training & Certification, Translation Services, Travel Agencies/Tour Operators, Witness Services

Carriers: Lloyd's of London

Coverage: Employment Practices Liability (EPL), Errors & Omissions (E&O)

Limits: up to $5 million

Miscellaneous Professional Liability

Administered By: U.S. Risk

Distribution: MGA

Industries:

Accountants & Accounting Services, Appraisers , Architects & Engineers (A&E), Auctioneers, Collections/Repossession Risks, Directors & Officers (D&O), Notary Public, Security/Investigation/Alarm Systems, Technology Risks, Third-Party Administrators (TPAs)

Carriers: Admiral Insurance Co., Lloyd's of London

Coverage: Business Owners Policy (BOP), Directors & Officers (D&O), Employment Practices Liability (EPL), Excess, Professional Liability, Umbrella/Excess

Limits: up to $5M (Professional Liability Policy), up to $2M (Employment Practices Policy)

Real Estate Professionals Industry Services

Administered By: Victor O. Schinnerer

Distribution: MGU

Industries:

Auctioneers, Commercial Real Estate Manager/Director, Consultants/Consulting Risks, Real Estate Agent/Broker, Real Estate Appraiser

Carriers: CNA Insurance Cos

Coverage: Errors & Omissions (E&O), Professional Liability

Limits: up to $5 million

Real Estate Professionals Select

Administered By: Victor O. Schinnerer

Distribution: MGU

Industries:

Auctioneers, Commercial Real Estate Manager/Director, Consultants/Consulting Risks, Real Estate Agent/Broker, Real Estate Appraiser

Carriers: CNA Insurance Cos

Coverage: Errors & Omissions (E&O)

Limits: - - - (Limits vary by state)

 

Umbrella/Excess Liability

Administered By: Century Surety

Distribution: Carrier Direct

Industries:

Apartments, Artisan & Trade Contractors, Auctioneers, Auto Service and Repair, Beauty Salon/Barber Shop, Campgrounds/RV Parks, Demolition Risks, Equipment Dealers, Farm/Ranch/Agribusiness, Homeowners/Condo Associations, Hospitality (Hotels/Motels), Landscape Design/Landscaping/Lawn Service, Lessors Risk, Manufacturers/Manufacturing Risks, Mercantile, Real Estate Managers, Restaurants, Retail (Convenience Store), Schools (Vocational), Vacant Property , Warehouses

Carriers: Century , Meadowbrook Insurance Group Inc.

Coverage: Umbrella/Excess

Limits: up to $5 million (Umbrella/Follow Form Excess)