New Markets

Corporate Identity Theft

Nuts & Bolts: National Union Fire Insurance Company of Pittsburgh, Pa., a member of American International Group Inc., released AIG Corporate Identity Protection, a new insurance policy designed to protect small and mid-sized companies from financial exposures related to identity theft or the threat of identity theft. AIG Corporate Identity Protection, which is ideal for companies in main-street industries with revenues up to $100 million or holding up to one million identities, provides coverage to a company when the personal data of its employees or customers is compromised, regardless of whether an actual identity theft results. The policy offers coverage to the insured company for the following: legal liability damages; defense costs; regulatory action expenses; notification costs; crisis expenses and post event services, including identity theft recovery services, such as education, assistance and credit monitoring for victims.

Dollars: Limits $100,000 up to $5 million.

Carrier: American International Specialty Lines Insurance Co. Non-admitted.

States: All. In Alaska and New Jersey the policy is issued by Lexington.

Contact: Peter Tulupman (212) 770-3141 or e-mail www.aignationalunion.com or professionalliability@aig.com.

Utility District Program

Nuts & Bolts: London American Risk Specialist Inc. is offering a utility district program. This program is designed for populations 75,000 and under and targets: electric distribution, gas distribution, water distribution, sewage/waste water systems, and electric generating plants or any combination of above services.

Dollars: $1 million (occurrence) to $2 million (aggregate).

Carrier: Rated “A+” XV by A.M. Best. Admitted.

States: Ala., Ark., Fla., Ga., Ill., Ind., Ken., La., Mich., Mo., Miss., N.C., S.C., Ohio, Tenn., Texas and Va.

Contact: Larry Vickery, (800) 448-7188, ext. 306, lvickery@londonamericantx.com or Carol Griffin (800) 448-7188, ext. 301, cgriffin@londonamericantx.com.

ElderCare Legal Expense Reimbursement

Nuts & Bolts: U.S. Risk Underwriters, a specialty lines underwriting manager and wholesale broker, announced that it has introduced a new ElderCare Legal Expense Reimbursement policy for long-term care facilities, including skilled care, assisted living and continuing care retirement communities. The policy reimburses these facilities for certain legal expenses that may be incurred in defense of a professional or general liability claim caused by a medical incident, event or offense.

Dollars: Limits up to $250,000.

Carrier: Rated “A” by A. M. Best. Non-admitted.

States: All except Fla., Miss. and Alaska.

Contact: U.S. Risk Underwriters in Dallas at (800) 952-7738, Metro DC at (800) 948-5800 or Houston at (800) 833-8803.

Medical Malpractice, Long-Term Care Medical Directors

Nuts & Bolts: U.S. Risk Underwriters introduced a new medical malpractice insurance product for physicians practicing as medical directors in long-term care facilities, including skilled care, assisted living and continuing care retirement communities. The policy includes a condition that requires these facilities to cover the medical director’s administrative duties and carry equal professional insurance limits or policy limits are lowered ($100,000/$300,000).

Dollars: Limits up to $1 million/$3 million; standard deductible of $5,000

Carrier: Rated “A-” by A.M. Best. Admitted.

States: California, Ohio and Texas.

Contact: Linda Morse, (281) 249-4934 or lindam@usrisk.com.

Professional Liability for Public Entities

Nuts & Bolts: Professional Underwriters, a national program administrator focused on public entity insurance, launched their new professional liability program, Provantage PE. Designed specifically for the public entity marketplace, Provantage PE offers brokers and agents access to monoline law enforcement professional, public officials professional/

EPLI, and educators’ legal liability/EPLI on a nationwide basis.

Dollars: Up to $ 5 million.

Carrier: Rated by “A” IX by A. M. Best. Non-admitted.

States: All except W. Va. and N.M.

Contact: Karen Eckert, (888) 855-4782 or visit www.ProvantagePE.com.

International D&O Liability

Nuts & Bolts: The AIG Companies introduced AIG Passport, an enhanced service process for corporate clients purchasing locally admitted directors and officers’ liability insurance to cover their international operations and subsidiaries. AIG Passport provides customers with the opportunity to request from an AIG Companies’ underwriter a global D&O program letter that details terms and conditions of the base D&O policy and one or more locally admitted policies, written in the local language and compliant with specific local laws and regulations. AIG Passport is available for international operations and subsidiaries in more than 75 countries.

Dollars: Limits up to $50 million; each account underwritten according to its unique risk profile. Premium dollars are allocated appropriately depending on how many and which countries are selected for the program.

Carrier: AIG Companies; varies by country and jurisdiction. Admitted/non-admitted.

States: All.

Contact: Stephen Whelan at (212) 458-2526 or stephen.whelan@aig.com.

Terrorism Insurance

Nuts & Bolts: Hiscox USA, U.S. subsidiary of Hiscox plc, a provider of specialty insurance, is now providing terrorism insurance in the U.S. The coverage will be offered to brokers through Hiscox USA’s Armonk, N.Y., headquarters. Hiscox USA, a new operation for European specialist insurer Hiscox, opened for business in March 2006 and is focused on rolling out Hiscox’s specialist products for small and mid-size U.S. businesses. Hiscox USA products can be purchased via USA-based local and regional brokers. The company has two New York City area operations.

Dollars: Up to $50 million.

Carrier: Hiscox USA, rated “A” by A.M. Best. Non-admitted.

States: All.

Contact: Alex Heywood, Hiscox USA at (914) 273 7424 or e-mail alex.heywood@hiscox.com.

Topics USA AM Best AIG