Insurance Program Results

20 of 49 Showing

 

Education: Growth in Property, Cyber

Bigger carriers, such as Ironshore, Genesis, FM Global, Munich Re, Lexington, The Hanover, United Educators, The Hartford, Cincinnati Insurance, GuideOne and Philadelphia Insurance, will be among the most active writers in higher education market. But while demands for higher limits on general liability and educators legal liability coverage taper off, expect to see little change to policy language for these accounts. The number of higher education institutions under investigation for Title IX violations has declined, after rising enough last year that carriers saw the need to increase limits.

This stabilization of Title IX claims leaves little reason for change. The market for larger college accounts remains the prevue of Ironshore, Genesis, FM Global, Munich Re, Lexington and United Educators. The Hanover, The Hartford, Cincinnati, GuideOne and Philadelphia, as well as United Educators, are active in the midsized college space. Most recently, The Hartford released the Educators Professional Choice in March response to potential liabilities that some institutions faced related to management and employment practices. This policy, a companion to the carrier’s general liability policy, offers coverage for directors, officers and entity liability, educators E&O liability and employment practices liability. Educators have the capability to choose one or more of the three coverage parts. Combined limits are offered up to $1 million per claim with umbrella coverage of up to $15 million. Another option allows for each coverage section to have its own separate limit up to $5 million per coverage part, or up to $10 million if only E&O coverage is purchased.

An abundance of capacity for higher education property coverage has led to a continual decline in pricing during the last 18 months. While rates could rise for institutions located in areas prone to weather catastrophe risks such as storms or hail, overall rates have been lower so far this year. FM Global, Lexington, AIG, The Hartford, Travelers and ACE are the more active carriers in this space.

Like many classes, the increasing utilization and storage of data makes cyber liability one of the areas of growing demand for educational institutions. Even as educational institutions begin to use encryption more often, their allowance of access to school networks through mobile devices and laptops, risk analysis shows these institutions becoming more vulnerable to a data breach.

Last year, University of Maryland, Butler University, North Dakota University, Arkansas State University and Indiana University were all impacted by large-scale data breaches that collectively affected more than 50,000 individuals. These breaches involved leaked names, birth dates, university identification numbers and social security numbers. Carriers such as Lloyd’s of London, Beazley, ACE and AIG expect submissions for cyber coverage from educational institutions to grow. ACE currently offers limits up to $20 million through its Privacy Protection product for educational institutions. The Hartford, The Hanover and Utica also offer cyber coverage as an endorsement to their educational institution policies. Beazley offers its own third-party information security and privacy coverage up to $15 million and breach response coverage.

Copyright © Crittenden Research Inc., August 3rd, 2015

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

Private, Academic & Vocational Schools

Administered By: Philadelphia Insurance

Distribution: Carrier Direct

Industries:

Colleges & Universities, Education & Nonprofit, Private/Charter Schools, Schools, Schools (Vocational)

Carriers: Philadelphia Insurance Co.

Coverage: Abuse & Molestation Liability, Auto Liability , Business Income/Extra Expense, Commercial Auto, Crime, Directors & Officers (D&O), Educators Legal Liability , Employment Practices Liability (EPL), Environmental Impairment Liability , General Liability, Inland Marine, Property, Student Accident, Umbrella/Excess, Violent Event Coverage

Limits: up to $1 million (General Liability), up to $1 million (Educators Professional Liability), up to $1 million (Auto Liability), up to $1 million/$1 million (Abuse & Molestation), up to $20 million (Umbrella)

Trident Public Schools Program

Administered By: Trident Insurance Services LLC

Distribution: MGA

Industries:

Colleges & Universities, School Districts, Schools

Carriers: Argonaut Insurance Co.

Coverage: Commercial Auto, Educators Legal Liability , Employment Practices Liability (EPL), Excess, General Liability, Law Enforcement Liability, Property, Umbrella/Excess

Limits: - - - (Varies)

Environmental Liability

Administered By: Rockhill Insurance Group

Distribution: Carrier Direct

Industries:

Art Galleries/Fine Art/Museums/Antique Dealers, Artisan & Trade Contractors, Colleges & Universities, Consultants/Consulting Risks, Contractors, Environmental Consultants , Farm/Ranch/Agribusiness, Healthcare Systems, Hospitals, Laboratories, Manufacturers/Manufacturing Risks, Mercantile, Museums, Private/Charter Schools, Residential Real Estate (Directors/Managers), Schools, Schools (Adult Education), Sports Facilities, Trucking, Warehouses, Waste/Recycling Services

Carriers: Rockhill Insurance Co.

Coverage: Environmental/Pollution Liability, Excess, General Liability, Professional Liability, Umbrella/Excess

Limits: up to $11 million ((Total Combined Capacity)), up to $10 million ((Excess)), $1 million - $10 million ((Primary))

Hospitals & Facilities

Administered By: Physicians Reciprocal Insurers

Distribution: Carrier Direct

Industries:

Ambulatory Surgery Centers (ASCs), Colleges & Universities, Community Health Centers, Dialysis Centers, Home Healthcare, Hospitals, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Rehabilitation Facilities, Schools, Substance Abuse Rehabilitation Facilities & Services

Carriers: Physicians' Reciprocal Insurers

Coverage: Excess, General Liability, Professional Liability, Umbrella/Excess

Limits: $1,000,000 - $3,000,000 (Primary or Excess)

Medical Schools & College-Based Clinic

Administered By: Physicians Reciprocal Insurers

Distribution: Carrier Direct

Industries:

Allied Health, Colleges & Universities, Medical Clinics/Infirmaries, Schools

Carriers: Physicians' Reciprocal Insurers

Coverage: General Liability, Professional Liability

Limits: $1,000,000 - $3,000,000 (Primary or Excess)

Public Sector

Administered By: Great American Insurance Group

Distribution: Carrier Direct

Industries:

Colleges & Universities, Municipalities/Government Bodies, Police & Fire Departments, Public Entities, School Districts

Carriers: Great American Insurance Cos.

Coverage: Abuse & Molestation Liability, Auto Liability , Employee Benefits Liability, Employment Practices Liability (EPL), General Liability, Medical Malpractice, Professional Liability, Public Officials Liability, School Board Liability

Limits: up to $10 million (Excess), up to $50 million (Earthquake), up to $100 million (Property), up to $10 million (Liability), up to $50 million (Flood)

Student Accident

Administered By: Markel

Distribution: Direct/Broker

Industries:

Colleges & Universities, Private/Charter Schools, Schools

Carriers: Markel Corp.

Coverage: Accident & Health

Limits: $25,000 - $50,000 (Accident Medical), up to $10,000 (Accidental Death & Dismemberment)

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

Allied Professional Liability Insurance

Administered By: XL Catlin (Formerly Catlin)

Distribution: Direct/Broker

Industries:

Adult Day Care, Allied Health, Ambulatory Surgery Centers (ASCs), Blood/Tissue Banks, Colleges & Universities, Dialysis Centers, Emergency Response Services (Ambulance), Gyms/Fitness Facilities, Home Healthcare, Home Medical Equipment, Hospice, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Medispas, Nurse/Staffing Registries, Opticians, Pharmacies, Physical Therapists, Psychiatric Facilities/Hospitals, Schools, Substance Abuse Rehabilitation Facilities & Services

Carriers: Catlin Specialty Insurance Co.

Coverage: Excess, General Liability, Professional Liability, Umbrella/Excess

Limits: $5,000,000 Per Claim - $10,000,000 aggregate

Directors & Officers

Administered By: Kinsale Insurance

Distribution: Carrier Direct

Industries:

Adoption/Foster Services & Facilities, Assisted Living Facilities, Auto/Car Dealerships, Behavioral/Mental Health Organizations, Blood/Tissue Banks, Camps (Youth, Sports & Enrichment), Churches/Religious Institutions/Organizations, Colleges & Universities, Community Associations, Crisis Call Centers, Day Care (Child or Adult), Education & Nonprofit, Groups & Clubs, Hospice, Libraries, Medical Clinics/Infirmaries, Mental Health/Behavioral (Counseling/Counselors), Nonprofit Organizations, Private/Charter Schools, Restaurants, Social Services, Substance Abuse Rehabilitation Facilities & Services

Carriers: Kinsale Insurance Co.

Coverage: Directors & Officers (D&O)

Limits: up to $5 million/$5 million (Primary)

Educational Institutions

Administered By: Apex Insurance Services

Distribution: Program Administrator

Industries:

Colleges & Universities, Educational Risks (School Administrators), Private/Charter Schools, School Districts, Schools, Schools (Vocational)

Carriers: WRM America Group

Coverage: Auto Liability , Auto Physical Damage, Crime, Employment Practices Liability (EPL), Equipment Breakdown, Excess, General Liability, Inland Marine, Law Enforcement Liability, Property, Workers' Compensation

Limits: Call for - 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 Property

Administered By: James River Insurance Co.

Distribution: MGA

Industries:

Colleges & Universities, Commercial Real Estate (Office), Commercial Real Estate (Retail), Freestanding Medical Facilities, Habitational, Hospitality (Hotels/Motels), Hospitals, Manufacturers/Manufacturing Risks, Municipalities/Government Bodies, Nursing Homes/Skilled Nursing Facilities, Real Estate Owners, Schools, Warehouses

Carriers: James River Insurance Co.

Coverage: Earthquake Liability , Excess, Flood, Property

Limits: up to $30 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)

Healthcare Facilities

Administered By: Arch Insurance Group

Distribution: Direct/Broker

Industries:

Allied Health, Ambulatory Surgery Centers (ASCs), Cancer Treatment Centers, Clinics/Infirmaries (Correctional Health), Colleges & Universities, Community Health Centers, Day Spas, Dialysis Centers, Home Healthcare, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Laboratories, Medical Clinics/Infirmaries, Medispas, Nurse/Staffing Registries, Pharmacies, Rehabilitation Facilities, Schools, Urgent Care

Carriers: Arch Insurance Co.

Coverage: Excess, General Liability, Professional Liability, Umbrella/Excess

Limits: up to $11,000,000

Minnesota Public School

Administered By: Riverport Insurance Co.

Distribution: Direct/Broker

Industries:

Colleges & Universities, Schools, Workers Compensation

Carriers: W.R. Berkley Corp.

Coverage: Commercial Auto, Crime, Excess, General Liability, Inland Marine, Property, School Leaders Legal Liability, Umbrella/Excess, Workers' Compensation

Limits: up to $500,000 (Employers Liability Limits), up to $5,000,000 (Excess Liability)

Participant Accident Insurance (Special Risk)

Administered By: Arch Insurance Group

Distribution: Direct/Broker

Industries:

Camps (Youth, Sports & Enrichment), Churches/Religious Institutions/Organizations, Civic Clubs (Nonprofit), Colleges & Universities, Day Care (Child or Adult), Firefighters (Volunteer), Nonprofit Organizations, Schools, Youth Services/Facilities, Youth Sports

Carriers: Arch Insurance Co.

Coverage: Accident & Health, Accidental Death & Dismemberment

Limits: - - - (Limits vary by group)

School Professional Liability Insurance Program

Administered By: American Professional Agency

Distribution: Program Administrator

Industries:

Colleges & Universities, Mental Health/Behavioral (Counseling/Counselors), Schools

Carriers: AIG, American Home Assurance Co.

Coverage: Excess, Professional Liability, Umbrella/Excess

Limits: up to $2,000,000/$4,000,000 (Professional Liability)

Umbrella & Excess

Administered By: StarStone

Distribution: Carrier Direct

Industries:

Auto Service and Repair, Churches/Religious Institutions/Organizations, Colleges & Universities, Habitational, Municipalities/Government Bodies, Schools

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

Coverage: Excess, Umbrella/Excess

Limits: up to $15 million (For low and medium hazard risks), up to $10 million