HO-3 Homeowners in Texas
Nuts & Bolts: The Republic Group, based in Dallas, introduced a new Homeowners Form 3 product in Texas. The company said the HO-3 is modeled after the ISO Homeowner form and is an all-perils product with expanded water coverage and other features custom-made for the Texas market.
Special features include: Better New Home Credits—The HO-3 increases the amount of credit and the time the credit is available on new homes. Homes less than one year old are eligible for a 26 percent credit. The credit varies for homes up to twelve years old; Firearms—The HO-3 provides coverage up to the policy personal property limit for loss of firearms and related equipment by all covered perils. The ISO form limits loss of firearms by theft to $2,500; Mature Homeowner Credit—The new product adds a 5 percent credit for the mature homeowner; Auto Companion Credit—The companion policy credit on the personal auto policy is increased from 10 percent to 20 percent; Deductibles—The product offers a windstorm or hail deductible and an all other perils deductible. An optional 2 percent named storm deductible is also available.
Boathouses can be written under this new form as a part of the “other structures” coverage of the homeowner policy. Golf carts are given expanded coverage under an endorsement available for the HO-3.
Dollars: Limits for homes up to $600,000.
Carrier: Republic Lloyds, a member of The Republic Group.
State: Texas.
Contact: Current agents can contact their marketing representatives; prospective agents are invited to inquire online at www.RepublicGroup.com, for information on how to represent Republic.
Towing, Recovery Operators
Nuts & Bolts: BISYS is the program manager working with Universal Casualty Company (A-VII) to insured professional towing and recovery operators. The program insures towing operators and towing operators with service garages or body shops. The program prohibits insuring re-possessors, salvage yards or garages where the primary operation is something other than towing. The package includes: auto liability and physical damage, garage keepers, general liability, on hook cargo and inland marine. The program is approved in 17 states and more state approvals are pending. Non-admitted in Texas and Wisconsin; binding authority rests with BISYS.
Dollars: From $300,000 to $1 M in combined single limit.
Carrier: Universal Casualty Company.
States: Ala., Ariz., Del., Hawaii, Ill., Ind., Iowa, Miss., Mo., N.D. Ohio, Okla., Ore. Penn., S.C., Texas, Vt. and Wis.
Contact: Lynn Roach, vice president, program manager, (866) 754-7658 ext. 3240, or e-mail towing@bisys.com.
Contingent Auto and Cargo Liability
Nuts & Bolts: Greenwich Transportation Underwriters Inc. offers coverage for contingent auto liability and contingent cargo for truck brokers.
Dollars: Limits up to $1M. Deductible, none on auto/$1000 with options on cargo.
Carrier: Two carriers, non-admitted.
States: Ala., Ark., Ariz., Calif., Co., Conn., Del., Fla., Ga., Hawaii, Idaho, Ill., Ind., Iowa, Kan., Ky., La., Maine, Md., Mich., Minn. Miss., Mo., Mont., Neb., Nev., N.H., N.J., N.M., N.Y., N.C., N.D., Ohio, Okla., Ore., Penn., R.I., S.C., S.D., Tenn., Texas, Utah, Vt., Va., Wash., D.C., W.Va., Wis. and Wyo.
Contact: Jim Savage, vice president marketing, (800) 488-8852, or e-mail jsavage@gtu-ins.com.
Topics Texas
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