New Markets

Contractor’s General Liability

Nuts & Bolts: Universal Casualty Company, a member of Kingsway Financial Services Inc., appointed Milton O. Johnston and Co. Ltd. of Houston, Texas, as an underwriting general agent to write CGL business in the state of Texas. They write artisan contractors (residential and commercial), general contractors, light to medium manufacturers, distributors, consultants, oil and gas (no over-the-hole contractors’), O, L and T risks (apartments, dwellings, restaurants, bars and taverns).

Dollars: Policy limits are $1 million /$2 million /$2 million. Minimum premiums vary by class of business.

Carrier: Universal Casualty Company rated “A-,” nonadmitted.

State Available: Texas.

Contact: Jeff Johnston, (281) 444-5167 or quotes@moj-co.com.

Farm and Ranch Program

Nuts & Bolts: The Independent Insurance Agents of Texas and The Republic Group, Dallas, have developed a joint insurance program that offers IIAT members a wide range of farm and ranch coverages. The program is available now with access through the IIAT Web site at www.iiat.org. The farm and ranch insurance policies are designed to insure the special needs of farm and ranch owners. The policies are broad and flexible and allow combined coverage for dwellings, farm structures, equipment and liability. The program also includes a farm umbrella product. The Stroud National Agency Inc., Ruidoso, N.M. is Republic’s servicing, processing and underwriting agency for this program. Stroud has been in the insurance business for more than 40 years and currently serves clients in the Midwest, Southwest and Western U.S. The program provides several benefits to independent agents, including the opportunity for direct appointments, competitive commissions at 12.5 percent, quick-quote capability, and alternative markets including equine coverage through Stroud’s additional markets.

State Available: Texas

Carrier: Republic

Contact: Program details are available on the IIAT Web site at iiat.org.

Community Bankers’ D&O

Nuts & Bolts: Mayfield Village, Ohio-based Progressive Casualty Ins. Co. released a new directors’ and officers’/company liability policy for financial institutions. The new policy allows bankers to protect the directors, officers and bank against exposures arising from the many services they now provide, under either a broad-form contract or on an individual named peril basis. Since the Gramm-

Leach-Bliley Act of 1999, community banks have ventured into activities well beyond the traditional banking arena. The policy
continues to provide a special nonerosion feature that ensures that limits are available to protect directors’ and officers’ personal liability, even if claims are paid for suits against the bank itself. The policy has been approved in most states, and is available through

independent agents.

Dollars: $15 million limit. Premiums and deductibles are based on size of bank.

Carrier: Progressive Casualty Ins. Co. rated “A+” (superior) from A.M. Best, admitted.

States Available: All.

Contact: Craig Collins, (715) 381-4876 or craig_m_collins@progressive.com.

Social Services Professional Liability

Nuts & Bolts: NAS Insurance Services introduced new social services professional liability coverage. Eligible classes range from mental health facilities to alcohol and drug rehab centers, as well as meals-on-wheels, respite care and hotlines. Among the many features of the social services insurance are incident reporting and full prior acts protection. Additional sexual abuse/molestation coverage is available by endorsement, as is defense in addition to the limits. Coverage for employed psychiatrists can also be obtained.

Dollars: Limits go up to $1 million each claim/$3 million aggregate. The coverage is also available in combination with general liability and professional coverages. The minimum premium is $2,000 and the minimum deductible is $5,000.

Carrier: NAS Insurance Services, an underwriting manager and Lloyd’s correspondent.

States Available: All states except for Alaska, Florida (Dade/Palm and Broward Counties), Hawaii, Texas (Rio Grande Valley), West Virginia.

Contact: David Leventhal, (818) 808-4464 or dleventhal@nasinsurance.com.

Renters Legal Liability

Nuts & Bolts: Lexington Insurance is offering a new market for renters sold directly through insurance agents. The benefits to be paid, subject to the policy’s express provisions and to the extent of the $100,000 policy limits, are in the following priorities. In the event of a covered loss the $100,000 policy limits, per occasion, shall benefit and/or be paid as follows: First, to the owner to the extent of the owner’s loss; Second, to the adjacent (non-negligent) resident(s) to the extent of such residents’ personal property loss, plus $1,000 for additional living expenses; Third, to the negligent (damage-causing) resident not to exceed $5,000, to the extent of
such resident’s personal property loss, plus $1,000 for additional living expenses. Renters legal liability insurance covers damages caused by renters’ negligence for fire, smoke, explosion, accidental water discharge and sewer backup.

Dollars: $1,000 yearly deposit, $1,000 deductible, $100,000 policy limit.

Carrier: Lexington Insurance, a member of AIG, rated “A+ XV.”

States Available: All.

Contact: (800) 770-9660 or www.rllinsure.com.

Tenant Discrimination Liability

Nuts & Bolts: NAS Insurance Services is introducing a new program whereby property owner/manager insureds can add tenant discrimination liability insurance to their property insurance for $500 additional premium. With the addition of tenant discrimination coverage, property insureds are covered from allegations and suits from current, prospective and former tenants and any other non-employee alleging discrimination (including violations of ADA), harassment, and/or wrongful eviction. The insurance also features full prior acts and punitive damage coverage (where insurable by law).

Dollars: The limit is $1 million per claim and on aggregate. The SIR is $2,500. Additional premium is $500.

Carrier: Lloyd’s rated “A,” nonadmitted

States Available: All.

Contact: Jeannie Davila, (818) 808-4471 or jdavila@nasinsurance.com.

Topics Texas