Insurance Program Results
Expanding Pollution Liability
Premium volume for site-specific pollution liability will grow this year alongside an increase in demand. Much of the recent business comes from the oil and gas industry, a sector in which Beazley, Ironshore and RLI Environmental expect growth. Plenty of other opportunities exist in industries that normally consider pollution liability to be a discretionary coverage. Underwriters are pushing for greater coverage within habitational and education classes, classes which are beginning to include the cost of coverage in their budgeting. Most new accounts will be first-time buyers who were made aware of coverage through carriers’ marketing of products or the persuasion of brokers and agents. Look for Zurich, STARR, XL, ACE, Philadelphia, Allied World, Travelers, Navigators and OneBeacon to also build pollution liability premium.
An abundance of capacity should keep rates steady. About 10 years ago, there were only five or six carriers in the segment; now there are about 40. Many carriers entered this profitable class due to declining investment income. Environmental Protection Agency regulations have helped make this segment more favorable with the implementation of stricter standards for handling chemicals and other pollutants. Premium potential can be quite significant, too. Minimum premiums range from $7,000 to $10,000 industrywide. Plenty of accounts sell at the minimum premium, though premiums can go into the hundred-thousand dollar range, depending on the types of property on the account. Some newer entrants will be more aggressive on price and coverage while longtime markets are becoming more cautious based on their experiences and historical loss developments. (10/13/14)
Architects & Engineers (Large Risk)
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Architects & Engineers (A&E), Environmental Consultants , Interior Designers, Project Managers, Project Managers/Project Management |
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Carriers: Beazley Insurance Co. Inc.
Coverage: Excess, Professional Liability, Umbrella/Excess
Limits: up to $30 million
Architects & Engineers (Middle Market)
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Architects & Engineers (A&E), Environmental Consultants , Interior Designers, Project Managers, Project Managers/Project Management |
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Carriers: Beazley Insurance Co. Inc.
Coverage: Cyber Liability, Professional Liability
Limits: up to $30 million
Architects & Engineers (Small Business)
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Architects & Engineers (A&E), Environmental Consultants , Interior Designers, Project Managers, Project Managers/Project Management |
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Carriers: Beazley Insurance Co. Inc.
Coverage: Professional Liability
Limits: up to $5 million
Architects & Engineers/Design-Build/Construction Prof Liability
Administered By: Target Professional Programs
Distribution: MGA
| Industries: |
Architects & Engineers (A&E), Civil Engineering/Surveyors, Contractors, Environmental Consultants , Interior Designers, Landscape Design/Landscaping/Lawn Service |
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Carriers: Underwriters at Lloyd's
Coverage: Employment Practices Liability (EPL), Professional Liability
Limits: $2 Million - $10 Million ((Tier Two)), up to - $3 million ((Tier One) Firms with revenues between $50,000 and $2 million. Including Excess limits, up to 25% premium discount for accounts with 5 year claim-free histories. )
Contractors Pollution Liability
Administered By: Rockhill Insurance Group
Distribution: Carrier Direct
| Industries: |
Artisan & Trade Contractors, Contractors, Demolition Risks, Environmental Consultants |
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Carriers: Rockhill Insurance Co., State Auto Insurance Cos.
Coverage: Environmental/Pollution Liability, Property Damage
Limits: up to $10 million (Excess), up to $11 million (Pollution Liability), up to $6 million (General Liability)
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 |
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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))
Contractor's Professional and Pollution Legal Liability
Administered By: XL Catlin
Distribution: Direct/Broker
| Industries: |
Artisan & Trade Contractors, Consultants/Consulting Risks, Contractors, Environmental Consultants |
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Carriers: Greenwich Insurance Co., Indian Harbor Insurance Co.
Coverage: Pollution Legal Liability, Professional Liability
Limits: up to $50 million (Claims-Made Pollution), up to $25 million (Occurrence - Pollution ), up to $25 million (Claims-Made Professional)
Energy - Primary
Administered By: James River Insurance Co.
Distribution: MGA
| Industries: |
Biotech, Consultants/Consulting Risks, Contractors, Drilling/Petroleum Risks, Energy Companies, Environmental Consultants , Mine/Mining Risks, Public Companies , Renewable Energy Risks |
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Carriers: James River Insurance Co.
Coverage: Contractors Pollution , Excess, General Liability, Products Liability, Professional Liability
Limits: up to $1 million (MEL - Combined Single Limit), up to $5 million/$10 Million (CGL), up to $5 million Occurrence (Pollution, Professional, Products)
Environmental
Administered By: James River Insurance Co.
Distribution: MGA
| Industries: |
Chemical Manufacturers/Distributors, Contractors, Demolition Risks, Environmental Consultants , Manufacturers/Manufacturing Risks, Project Managers, Project Managers/Project Management, Schools, Site Pollution, Warehouses, Waste/Recycling Services |
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Carriers: James River Insurance Co.
Coverage: Contractors Pollution , Environmental/Pollution Liability, Excess, General Liability, Pollution Legal Liability, Professional Liability
Limits: up to - $5 million (Primary), up to - $11 million (Lead Excess Or As Part of Higher Excess Layer), up to - $11 million (in combination with Excess)
Environmental Consultants
Administered By: Victor O. Schinnerer
Distribution: MGU
| Industries: |
Environmental Consultants , Workers Compensation |
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Carriers: ACE Group, CNA Insurance Cos, Great American Insurance Cos., Hiscox Insurance Co. Inc., The Navigators Group Inc.
Coverage: Commercial Auto, Excess, Kidnap, Ransom & Extortion (KRE), Management Liability, Professional Liability, Property, Umbrella/Excess, Workers' Compensation
Limits: up to $100,000 (Property), up to $1 million (Commercial Auto), up to $2 million (Professional liability), up to $5 million (Umbrella), up to $100,000 (Inland Marine), up to $100,000 (Workers' Compensation (higher limits available))
Architects and Engineers
Administered By: Arrowhead Group
Distribution: MGA
| Industries: |
Architects & Engineers (A&E), Environmental Consultants |
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Carriers: Hudson Specialty Insurance Co.
Coverage: Cyber Liability, Excess, Professional Liability, Umbrella/Excess
Limits: up to $10 million
Chemical Manufacturers and Distributors
Administered By: Tokio Marine Specialty Ins. Co.
Distribution: Carrier Direct
| Industries: |
Chemical Manufacturers/Distributors, Environmental Consultants , Waste/Recycling Services |
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Carriers: Philadelphia Indemnity Insurance Co., Tokio Marine Specialty Insurance Co.
Coverage: Accidental Contamination, Environmental/Pollution Liability, General Liability, Risk Management
Limits: up to - $2/2/4 Million (Primary), up to - $11 Million (Excess)
Contractors Environmental & Professional Coverage (CEPC)
Administered By: Tokio Marine Specialty Ins. Co.
Distribution: Carrier Direct
| Industries: |
Artisan & Trade Contractors, Contractors, Emergency Response Services (Ambulance), Environmental Consultants , Site Pollution |
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Carriers: Philadelphia Indemnity Insurance Co., Tokio Marine Specialty Insurance Co.
Coverage: Contractors Pollution , Professional Liability
Limits: up to - $25 million
Environmental
Administered By: Hull & Co.
Distribution: Program Administrator
| Industries: |
Contractors, Distribution Risks, Environmental Consultants , Hospitals, Laboratories, Manufacturers/Manufacturing Risks, Real Estate Owners, Storage Tanks (Above/Under Ground), Waste/Recycling Services |
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Carriers: Hamilton Specialty Insurance Co.
Coverage: Commercial Auto, Contractors Pollution , Environmental/Pollution Liability, Excess, General Liability, Pollution Legal Liability, Professional Liability, Railroad Protective Liability, Stop Gap Liability , Workers' Compensation
Limits: up to $11 million
Environmental Engineers, Consultants & Contractors
Administered By: Freberg Environmental Insurance
Distribution: MGU
| Industries: |
Contractors, Drilling/Petroleum Risks, Environmental Consultants , Site Pollution, Waste/Recycling Services |
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Carriers: W.R. Berkley Corp., Willis
Coverage: Commercial Package (BOP), Contractors Pollution , General Liability, Professional Liability
Limits: up to $16 million (Limit of Liability), $2500 - & Up (Minimum Premium)
Environmental Impairment Liability and Petroleum Storage Tanks
Administered By: Freberg Environmental Insurance
Distribution: MGU
| Industries: |
Environmental Consultants , Gas Stations, Storage Tanks (Above/Under Ground) |
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Carriers: W.R. Berkley Corp., Willis
Coverage: Accidental Contamination, Commercial Package (BOP), Environmental/Pollution Liability, Excess, General Liability, Umbrella/Excess
Limits: up to $16 million (Limit of Liability)