Motor Carriers
Nuts & Bolts: Lexington Insurance Company, a member company of American International Group Inc., introduced Lex TransportPlus, a new product suite encompassing two policies: Motor Truck Cargo and Vehicle Physical Damage insurance. The two policies offer broad, flexible coverage for motor carriers and are available together with a single aggregate deductible and limit, or on a standalone basis with a variety of optional enhancements that address key industry exposures, including employee theft.
Motor Truck Cargo covers the legal obligations of both common and contract carriers with revenues. Scheduling of individual vehicles or operators under the cargo policy is not required, and coverage can be tailored for motor carriers hauling virtually any type of commodity. Lexington provides unique loss control services that can facilitate policyholders’ access to cargo tracking and monitoring technology used to mitigate theft-related losses. Additionally, Lexington has retained security specialists to evaluate and recommend additional precautions to prevent losses. In addition to employee theft, other optional coverage endorsements within the Motor Truck Cargo policy it addresses contract penalties, expediting expenses, moving equipment, on- and off-board electronics, on-board expendable supplies, contingent cargo and reward expenses for costs leading to the successful return of stolen property.
Vehicle Physical Damage is designed to meet the needs of scheduled owned vehicles of most types of over-the-road vehicles, including: buses; rescue vehicles; cherry pickers; ready-mix units and dump trucks. A wide range of available coverage options include specified perils and collision, and coverage can be extended to include temporary transportation rental expenses and temporary replacement vehicle physical damage. Optional additional limits are available for towing, storage and debris removal expenses.
Dollars: Deductibles and limits vary per risk with no absolute regarding minimums or maximums.
Carrier: Lexington Insurance, nonadmitted.
States Available: All except Delaware.
Contact: Steve.Silverman, (617) 330-8492 or e-mail lexproperty@aig.com.
Security Guards
Nuts & Bolts: Brownyard Group recently expanded Brownguard, its flagship package program for security guard firms, to include limits up to $5 million. Brownguard provides broad coverage, which includes: general liability, excess/umbrella liability, workers’ compensation, property, auto and first and third party dishonesty coverage. Brownguard is underwritten by Arch Insurance Group and is available throughout the United States (except Wyoming). It is distributed solely through independent insurance agents.
Dollars: Limits go up to $5 million. No deductibles; minimum premiums start at $2,500.
Carrier: Arch Ins. Co., rated “A-” XV, nonadmitted in all states except New York.
States Available: All except Wyoming.
Contact: Torrence Brownyard, (800) 645-5820 or tbrownyad@brownyard.com.
Energy Risk
Nuts & Bolts: ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, formed ACE Energy, a new retail business unit focusing on the needs of the U.S. energy marketplace. The business will offer a full suite of property and casualty products for energy related entities, including coverage for: onshore and offshore oil and gas facilities; power and utility generating facilities; inland marine, on a retail basis; high-challenge facilities, such as mining; custom and excess casualty lines.
Dollars: Property maximum limit of $50 million. Casualty maximum limit up to $25 million in capacity available. Primary and excess coverage also available. Environmental coverage options available up to $25 million limit for select classes. Deductibles and sublimits vary with individual risk characteristics.
Carrier: ACE American Ins. Co., rated “A+” (superior) by A.M. Best, admitted, and Illinois Union, nonadmitted.
States Available: All.
Contact: Paul O’Neill, (678) 795-4339 or paul.o’neill@ace-ina.com. Keith Mat-theessen, (713) 403-3020 or keith.mattheessen@ace-ina.com.
Temporary Staffing Industry
Nuts & Bolts: AIG Risk Management, a member of American International Group Inc., launched a new suite of insurance coverages and risk management services designed to meet the needs of the fast-growing temporary staffing industry. AIGRM serves temporary staffing firms of all sizes and provides insurance and risk management solutions tailor-made to fit their specific risk profile. AIGRM’s temporary staffing program offers an array of comprehensive coverages that address standard and specialty risks, including primary casualty, workers’ compensation, general liability, automobile liability, fidelity, employment practices liability,
fiduciary and professional liability. Further, loss control and safety programs aimed at improving interview and background check processes, screening clients, and developing training programs that assist employees in recognizing and avoiding workplace hazards are available.
AIGRM’s claims experts offer: expertise in financial investigations to identify fraudulent claims; training for clients’ risk managers to help them recognize common fraud indicators; on-site visits where losses occur; implementation of medical cost containment policies; and assistance with setting up and funding return-to-work programs.
Dollars: Statutory limits, deductibles start at $100,000, and minimum premiums vary by program type.
Carrier: AIG, rated “A++,” admitted.
States Available: All.
Contact: Bradley Smith (617) 457-2957 or brad.smith2@aig.com.
Employment Practices Liability
Nuts & Bolts: CNA has updated and enhanced its suite of management and professional liability products with the introduction of a stand-alone employment practices liability product. The new coverage, EPL Solutions, targets publicly traded commercial companies, financial institutions and financial service organizations. In addition, EPL Solutions includes expanded definitions and enhanced coverages that address the changing employment world. CNA’s EPL Solutions offers limits up to $15 million, and is a vital part of the suite of coverages that are offered to clients through its distribution network of agents and brokers.
Dollars: No minimums. Deductibles and premiums depend on the risk profile.
Carrier: CNA Insurance, rated “A” by A.M. Best, admitted or surplus lines basis.
States Available: All.
Contact: Ryan Cytryn, (212) 440-2562 or Dan Fellerman, (732) 398-4378.
Was this article valuable?
Here are more articles you may enjoy.
Supreme Court Overturns Chevron Rule in Blow to Regulators 
Ford Recalls 668,000 2014 F-150 Pickup Trucks Over Transmission Issue 
German Insurtech Wefox to Replace CEO After Board Rejects Mubadala Sales Plan 
US Judge Skeptical of Biden Overtime Pay Rule From This Issue
