New Markets

New Markets

Management, Professional Liability

Nuts & Bolts: National Union Fire Insurance Co. of Pittsburgh, a member company of American International Group Inc., has released AIG ePro, a Web-based system allowing brokers to quote and bind PrivateRisk Protector coverages.

PrivateRisk Protector is a portfolio of management and professional liability coverages designed for private companies. AIG ePro was engineered for brokers to simplify the selection of coverages, generate quotations and electronically issue policies.

AIG ePro offers six coverages in the PrivateRisk Protector portfolio, including: directors, officers and private company liability insurance; employment practices liability insurance; pension trust liability insurance; fidelity and crime coverage; employed lawyers professional liability insurance; and internet media liability insurance.

Dollars: For companies up to $100 million in revenues.

Carrier: National Union Fire Insurance Co. of Pittsburgh.

States Available: All.

Contact: Web site: www.aignationalunion.com, or e-mail: epro_support @aig.com.

Freight Forwarders

Nuts & Bolts: Fireman’s Fund Insurance Co. has introduced an insurance package offering combinations of shippers interest, bailee, legal liability, and errors and omissions coverages for freight forwarders. The Fireman’s Fund Specialty program for freight forwarders is said to offer a simplified rate schedule, an easy-to-use commodity list, and automated rating and reporting.

The company has built the new product into FOCUS, an online facility that is designed to expedite the underwriting and claims process for ocean marine customers. Errors and omissions is also a newly available feature to the product.

Dollars: The target audience is small to midsized freight forwarders with revenues between $5 million and $25 million seeking limits of up to $5 million.

Carrier: Fireman’s Fund, rated “A.”

States Available: All.

Contact: www.firemansfund.com.

Environmental Program

Nuts & Bolts: Hudson Programs’ environmental insurance program has established several new specialty programs in well-defined segments during the past 24 months. The environmental program includes coverage for all size of environmental engineers, consultants and contractors, above ground and underground storage tanks, as well as site pollution coverage for a variety of facilities. The program is largely written on a non-admitted basis.

Dollars: The program features commercial general liability, contractor pollution liability, professional liability and first- and third-party pollution liability with limits up to $10 million. The minimum premiums generally start at $3,000, $1,500 for tank business. Site pollution policy terms are available up to 10 years.

Carrier: Hudson Insurance Co., Hudson Specialty Insurance Co. and Clearwater Insurance Co., all rated “A” by A.M. Best.

States Available: Nonadmitted in all states. Admitted in New York and New Jersey.

Contact: e-mail Mike Hill at mhill@
feiinsurance.com.

Topics AIG