Residential Construction
Nuts & Bolts: Lemac and Associates has announced a new market for residential contractors in California targeting “fit & finish” contractors such as cabinet contractors, carpentry (finish), electrical, fencing, floor covering, masonry, painting, steel work (ornamental) and tiling. Tract work is acceptable, and Lemac will look closely at the general contractors with whom the insured is working. Insureds must be in business for no less than five years. Multi-unit dwelling/condominium/town home work is not acceptable with this market. However, Lemac has other markets that will fit the bill. Submission requirements are: ACORD application, a company-specific contractor questionnaire (available from any Lemac account representative or www.lemacassociates.com), currently valued loss runs for the past five years. Coverage will be limited to the work described in the application, making it imperative that the questionnaire be completed fully and correctly by the insured.
Dollars: Minimum premium is $25,000 and the available limits are $1 million/$2 million/$1 million.
Carrier: Rated “A VIII,”nonadmitted.
State Available: California.
Contact: (323) 857-9400, (714) 938-0251 or www.lemacassociates.com.
Identity Theft Protection
Nuts & Bolts: Travelers personal lines, a member of St. Paul Travelers, has enhanced its identity theft protection program, including a new resolution service and expanded expense reimbursement coverage. A consumer fraud specialist will guide victims through reclaiming their identity and repairing their damaged financial history, including ordering credit reports, alerting credit reporting agencies, enrolling customers in six months of daily credit monitoring, and preparing dispute letters on the customers’ behalf.
Additionally, the expense reimbursement coverages have been expanded with increased coverage limit from $15,000 to $25,000, eliminated deductibles, increased coverage for lost wages up to $1,000 per week for a maximum of five weeks, and added reimbursement for daycare and eldercare expenses. Other covered expenses include notary and certified mail charges for completing and delivering fraud affidavits, fees to re-apply for loans that were denied due to erroneous credit information due to the identity theft, long distance telephone charges for calling merchants, the cost of discussing an act of identity theft with law enforcement agencies or credit grantors, and attorney fees incurred with Travelers’ prior consent. Offered as an endorsement to a Travelers homeowners, condo or renters policy, the enhanced identity theft coverage will be available in most states.
Also offered is identity fraud expense reimbursement coverage to financial institutions or commercial businesses that purchase a master policy on behalf of their account holders or customers, or for use as an employee or membership benefit offering.
Dollars: The limit is $25,000. No deduc-tibles. The endorsement to a Travelers homeowners, condo or renters policy is $25 per year.
Carrier: Travelers rated “A+,” nonadmitted.
States Available: All except Hawaii and Alaska.
Contact: Kristin Fabian, (860) 277-6497.
To submit information for this department,
e-mail bwells@insurancejournal.com.
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