Insurance Program Results
BOP: Economic Recovery, Competition Changes Tune for Music Stores
Carriers’ search for as much topline growth as possible amid rising competition will lead to the incorporation of musical instrument and supply shops into their tailored package offerings. It’s expected that the musical instrument and supply retail sector will make a comeback this year, albeit a slow one. The $6 billion industry grew by 1.1 percent during each of the past five years, but is poised to grow along with the economy as a whole. Economists predict that a plodding economic recovery is now a thing of the past and that surviving businesses will profit from a more favorable, and faster moving, recovery.
While the musical instrument and supply industry presents opportunities for organic growth, it will also become an attractive segment for additional premium. Since musical instrument stores tend to also offer services, such as instrument repair and music lessons, professional liability is an integral coverage for these shops. Professional liability remains one of the few areas in which carriers have been able to implement rate increases in the high single-digit percentages. (4/6/15)
Beazley Breach Response Select
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Accountable Care Organizations (ACOs), Acupuncturist, Allied Health, Art Galleries/Fine Art/Museums/Antique Dealers, Assisted Living Facilities, Chiropractors, Civic Clubs (Nonprofit), Colleges & Universities, Continuing Care Retirement Communities (CCRCs), Day Spas, Dentists, Education & Nonprofit, Emergency Response Services (Ambulance), Gastroenterologist, Health Maintenance Organization (HMO), Healthcare Systems, Hospice, Hospitality (Hotels/Motels), Hospitals, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Independent Living Facilities, Laboratories, Lawyers, Long-Term Care Facilities (LTC), Managed Care Organizations, Massage Therapy/Therapists, Mental Health/Behavioral (Counseling/Counselors), Midwives, Non Emergency Transportation (Medical), Nurse/Staffing Registries, Nursing Homes/Skilled Nursing Facilities, Opticians, Pharmacies, Pharmacists, Physicians, Podiatrists, Private/Charter Schools, Psychiatric Facilities/Hospitals, Psychologists, Rehabilitation Facilities, Research/Research Organizations (Clinical, Etc.), Retail, Schools, Schools (Adult Education), Substance Abuse Rehabilitation Facilities & Services, Surgeons, Therapy/Therapists, Weight Loss Clinics |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: Cyber Liability, Excess, Umbrella/Excess
Limits: up to $5 million
Excess & Surplus Property
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Apartments, Churches/Religious Institutions/Organizations, Gas Stations, Manufacturers/Manufacturing Risks, Real Estate Managers, Real Estate Owners, Real Estate Risks (Municipal Property), Retail, Senior Living Facilities |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: Commercial Property
Limits: up to $1 billion (TIV)
Information Security & Privacy
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Financial Institutions, Healthcare Systems, Nonprofit Organizations, Private Companies, Public Companies , Retail |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: Cyber Liability, Media Liability, Privacy Liability/Notification Expense, Regulatory Liability
Limits: up to $20 million
Philadelphia Hotel & Motel
Administered By: Philadelphia Insurance
Distribution: Carrier Direct
| Industries: |
Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks, Retail |
|---|
Carriers: Philadelphia Insurance Co.
Coverage: Auto Liability , Boiler & Machinery, Commercial Property, Crime, Directors & Officers (D&O), Employee Benefits Liability, General Liability, Liquor Liability, Premises Liability
Limits: up to $1 million/$3 million (General Liability )
Worldwide Commercial Binding
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Commercial Real Estate Manager/Director, Retail, Retail (Convenience Store) |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: Excess, Property, Umbrella/Excess
Limits: Up to - $5 Million
Business Insurance
Administered By: Sentry Insurance
Distribution: Carrier Direct
| Industries: |
Auto Dismantling/Scrap Metal/Recycling, Auto/Car Dealerships, Equipment Dealers, Farm/Ranch/Agribusiness, Food & Beverage Manufacturers, Motorsports, Retail, Small Businesses |
|---|
Carriers: Sentry Insurance, a Mutual Company
Coverage: Business Income/Extra Expense, Business Interruption, Business Owners Policy (BOP), Business Personal Property/Business, Business Travel Accident, Employee Benefits, Employment Practices Liability (EPL), Property & Casualty , Workers' Compensation
Limits: Call - For Limits
[in]FUSE®
Administered By: ThinkRisk
Distribution: MGA
| Industries: |
Insurance Agents, Managing General Agents (MGAs), Retail |
|---|
Carriers: OneBeacon Insurance Co.
Coverage: Cyber Liability, Professional Liability
Limits: $1 million - $20 million
Enterprise PrivaProtector 9.0
Administered By: Ironshore
Distribution: Direct/Broker
| Industries: |
Consultants/Consulting Risks, Contractors, Financial Institutions, Healthcare Systems, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks, Public Entities, Retail, Technology Risks |
|---|
Carriers: Ironshore Inc.
Coverage: Business Income/Extra Expense, Cyber Liability, Data Security, Media Liability, Network Security Liability, Privacy Liability/Notification Expense, Regulatory Liability
Limits: up to $5 million
General Liability
Administered By: Rockhill Insurance Group
Distribution: Carrier Direct
| Industries: |
Builders Risk/Home Builders, Commercial Real Estate Manager/Director, Contractors, Directors & Officers (D&O), Equipment Rentals, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks, Rentals (Equipment), Residential Real Estate (Directors/Managers), Retail, Warehouses |
|---|
Carriers: Rockhill Insurance Co.
Coverage: Directors & Officers (D&O), General Liability
Limits: $1 million - $2 million
Natural Food and Vitamin Store
Administered By: Great American Insurance Group
Distribution: Carrier Direct
| Industries: |
Retail |
|---|
Carriers: Great American Insurance Cos.
Coverage: General Liability, Products & Complete Operations Liability, Products Liability
Limits:
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
ARCH NetSafe
Administered By: Arch Insurance Group
Distribution: Direct/Broker
| Industries: |
Financial Institutions, Retail, Technology Risks |
|---|
Carriers: Arch Insurance Co.
Coverage: Business Income/Extra Expense, Cyber Liability, Media Liability, Network Security Liability, Privacy Liability/Notification Expense
Limits: up to $10 million
Employment Practices Liability
Administered By: HCC Specialty
Distribution: Direct/Broker
| Industries: |
Architects & Engineers (A&E), Contractors, Retail |
|---|
Carriers: Avemco Insurance Co., HCC, U.S. Specialty Insurance Co.
Coverage: Employment Practices Liability (EPL)
Limits: $250,000 - $2 million
Employment Practices Liability
Administered By: Kinsale Insurance
Distribution: Carrier Direct
| Industries: |
Accountants & Accounting Services, Architects & Engineers (A&E), Art Galleries/Fine Art/Museums/Antique Dealers, Auto Service and Repair, Auto/Car Dealerships, Aviation Risks & Airports, Banks, Brokers/Dealers, Camps (Youth, Sports & Enrichment), Chemical Manufacturers/Distributors, Commercial Auto (Public Transportation), Construction Equipment/Machinery/Materials, Educational Risks (School Administrators), Energy Companies, Film Risks, Gas Stations, Hospitality (Hotels/Motels), Insurance Agents, Insurance Companies, Investment Advisers, Lawyers, Logging/Lumber/Forestry Risks, Manufacturers (Hardware), Manufacturers/Manufacturing Risks, Mine/Mining Risks, Miscellaneous Risks, Museums, Nonprofit Organizations, Real Estate Agent/Broker, Research/Research Organizations (Clinical, Etc.), Restaurants, Retail, Social Services, Utility Companies |
|---|
Carriers: Kinsale Insurance Co.
Coverage: Bodily/Personal Injury, Employment Practices Liability (EPL)
Limits: up to $5 million/$5 million (Primary Limits)
E&O For Tech/Media/Telecom
Administered By: XL Catlin
Distribution: Direct/Broker
| Industries: |
Accountants & Accounting Services, Colleges & Universities, Digital & Software Development, Distribution Risks, Energy Companies, Financial Institutions, Healthcare Systems, Insurance Agents, Lawyers, Manufacturers (Hardware), Manufacturers/Manufacturing Risks, Real Estate Agent/Broker, Retail, Technology Risks, Telecommunication Services |
|---|
Carriers: XL Insurance Co.
Coverage: Cyber Liability, Data Security, Errors & Omissions (E&O), Excess, Network Security Liability, Privacy Liability/Notification Expense, Umbrella/Excess
Limits: up to $10 million
Excess Casualty
Administered By: James River Insurance Co.
Distribution: MGA
| Industries: |
Contractors, Distribution Risks, Equipment Rentals, Events and Event Planners, Habitational, Manufacturers/Manufacturing Risks, Restaurants, Retail |
|---|
Carriers: James River Insurance Co.
Coverage: Excess
Limits: up to $10 million (Occurrence or Claims Made, Prior Acts Available)
GMI Monoline Business Auto Program
Administered By: GMI Insurance Services
Distribution: MGA
| Industries: |
Contractors, Distribution Risks, Manufacturers/Manufacturing Risks, Retail |
|---|
Carriers: Plaza Insurance Co.
Coverage: Commercial Auto
Limits: up to $1 Million (Liability), up to $100,000 (Physical Damage)
Health Food Stores
Administered By: Argo Group
Distribution: Direct/Broker
| Industries: |
Retail |
|---|
Carriers: Argonaut Insurance Co.
Coverage: Auto Liability , Excess, General Liability, Products Liability, Property, Umbrella/Excess
Limits:
Mercantile
Administered By: Promont Advisors
Distribution: MGU
| Industries: |
Commercial Real Estate (Office), Commercial Real Estate (Retail), Gas Stations, Manufacturers/Manufacturing Risks, Retail, Warehouses |
|---|
Carriers: GuideOne Insurance Cos., Liberty Mutual Group, United Specialty Insurance Co.
Coverage: Commercial Auto (Hired & Non-Owned), Employee Benefits Liability, Equipment Breakdown, General Liability, Professional Liability, Property
Limits: up to $2 million (General Liability), up to $5 million (Property)
NetGuard™ Plus
Administered By: NAS Insurance Services
Distribution: MGA
| Industries: |
Auto/Car Dealerships, Education & Nonprofit, Educational Risks (School Administrators), Financial Institutions, Hospitals, Insurance Agents, Municipalities/Government Bodies, Physician Groups, Physicians, Retail, Schools, Small Businesses, Staffing Agencies, Utility Companies |
|---|
Carriers: Lloyd's of London
Coverage: Crime, Cyber Liability, Data Security, Network Security Liability, Privacy Liability/Notification Expense, Reputational Risk
Limits: up to $25 million