Real Estate Agents and Brokers E&O
Nuts & Bolts: London American Professional Liability LLC a program administrator and MGA, introduced a new program for real estate agents and brokers errors and omissions. The program is being offered in most states and is underwritten by an “A” (Excellent) A.M. Best-rated insurance carrier. This professional liability program is designed to protect real estate firms and associated real estate industry professionals with revenues up to $250 million.
Dollars: Up to $5 million each claim/$5 million annual aggregate limit.
Carrier: American Safety, rated “A” by A.M. Best. Non-admitted.
States: All except Ariz., Calif., Conn. Mass., N.H., R.I., Maine, Vt., Iowa, Del. and Okla.
Contact: Ed Velasquez, 201-944-7000 or e-mail evelasquez@londonamericantx.com.
Employment Practices Liability
Nuts & Bolts: Executive Perils Inc. is offering an employment practices liability product for up to 250 employees. Third party coverage is available. Punitive damages are available. Defense costs outside the limit and by lateral discovery available.
Dollars: Up to $15 million.
Carrier: Rated “A+” by A.M. Best. Admitted and non-admitted.
States: All.
Contact: Info at eperils.com or call 310-444-9333.
Hospitality Program
Nuts & Bolts: Underwriters at PLIS are offering The Hospitality program, written on Lloyd’s (“A”) paper covering named perils ranging from Aeromonas hydrophila to Yersinia enterocolotica. The policy includes: A “trade name trigger;” up to 25 percent of the applicable limits available for “Incident Response Expenses,” including immediate crisis management expenses (as approved by underwriters), communications, marketing and media support (as approved by underwriters); coverage for accidental and malicious contamination for named perils. Dual coverage trigger of: an actual or alleged incident and a media announcement. A seven-day/10 percent reduction of sales waiting period then coverage may be provided back to “day one/dollar one.” Separate sub-limit coverage for suppliers and extortion can be considered. The Hospitality program also has access to the certified crisis management team of Specialty Risk Management Inc. to assist in reducing the impact of loss revenue on the insured. SRM has extensive expertise on: food law; public health law; communicable diseases/pathology; media and marketing techniques, customer hotline and food borne illness protocols. The SRM Crisis Management Team is available 24/7 in order to meet the needs of any covered location from the immediate onset of any potential outbreak and they are able to work directly or indirectly with local, state or federal health authorities.
Dollars: Up to $70 million in capacity.
Carrier: Rating “A” A.M. Best. Non-admitted
States: All.
Contact: Underwriting team, 800-761-7547 or e-mail underwriting@plisinc.com.
Topics AM Best
Was this article valuable?
Here are more articles you may enjoy.
From This Issue
