New Markets

Commercial Property Managers
Nuts & Bolts: The Hartford Financial Services Group, Inc. has expanded its real estate insurance program to offer property and liability coverage to commercial property owners and managers. The Hartford’s target market encompasses owners and managers of retail, industrial, and office properties, whose primary source of income is rental receipts from these properties. Many of the options and features are made available through the company’s new Supplemental Property Insurance Coverage Endorsement (SPICE) for Real Estate, a complement to The Hartford’s broad Property Choice policy. The SPICE for Real Estate meets a variety of industry-specific needs, including business income coverage up to the following amounts: $100,000 for reduced or lost rental receipts resulting from direct physical damage to an anchor store at a commercial property; $50,000, if a covered cause of loss at an adjacent property prevents or limits access to the policyholder’s property; $50,000, when property is restored after a covered loss and results in a tax increase due to higher property values and up to $1,000,000 for losses to newly-acquired property.

Dollars: Up to $1,000,000.
Carrier: The Hartford
States: All states except Louisiana, Alaska and Hawaii.
Contact: Rowena Styron at 860-547-8596 or e-mail Rowena.styron@the Hartford.com.

Long Haul Trucking Program
Nuts & Bolts: M.J. Hall and Co. Inc., a general agent and surplus lines wholesaler, has a new program for long haul truckers garaged in California. It covers liability, physical damage, cargo and trucker’s general liability. The program also covers: Ag haulers, intermodal operations, flatbed operations and oversized/overweight operations. Fleets up to 50 units are acceptable. M.J. Hall’s other transportation markets include local and long haul truckers domiciled in California, public auto (non-emergency medical, taxi, charter bus), excess auto, garage (service and dealer included GKLL and DOL) and business auto.

Dollars: Up to $1 million; $1,000 standard deductible for specified perils, collision.
Carrier: Rated “A-” by A.M. Best. Admitted.
States: California.
Contact: Shannon Nauta, 209-948-8108, ext.141, or e-mail snauta@mjhallandcompany.com.

General Liability Coverage for Builders, Contractors, Artisans
Nuts & Bolts: Golden Insurance Co. RRG has extended its primary commercial general liability coverage for builders, general contractors and artisans to $1 million/$1 million beginning in Jan. 2007. Coverage is offered on a claims-made basis, and most builder trade classes will be considered. Extended tail coverage of two or three years may be purchased at additional premium. Project specific, premise only and $1 million excess coverage is also available. The program will primarily market to contractors involved in condo/townhome, HOA and multi-family projects, and premiums will be rated off payroll for artisans; general contractors will be rated off of gross receipts. Coverage is offered in multiple states. Minimum premiums are $3,500 for most artisans and $5,000 for general contractors, roofers and plumbers. Deductibles are offered at 1,000/$2,500/$5,000/$10,000. Higher SIR will be considered on a case by case basis. Additional credit and discounted rates are given when bundled with the structural warranty coverage through StrucSure Home Warranty. Credit is also given for clean loss history. Primary policy exclusions include: prior acts exclusion; course of roofing; mold/fungus; subsidence/earth movement; nuclear exclusion; wrap up exclusion; and designatedwork exclusion. Risk Management is performed by Beecher Carlson, which will be responsible for all aspects of risk management, policy generation, claims services, actuary and regulatory issues. SHW Insurance Services Corp will provide underwriting and binding functions. Policy is 25 percent earned and fees include a fully earned 5 percent subscription fee, applicable state tax and a flat $250 or $500 policy fee.

Dollars: Up to $2 million occurrence/$2 million aggregate.
Carrier: Golden Insurance Co. RRG. Non-admitted and non-rated by A.M. Best.
States: Ala., Alas., Ariz., Calif., Colo., Fla., Ga., Hawaii, Idaho, Ind., Iowa, Kansas, Miss., Mo., Mont., Neb., Nev., N.M., Okla., Ore., S.C., Texas, Utah, Wash., and Wyo.
Contact: Hadley Wood at 888-654-6565 or e-mail Hadley@strucsure.com.

Apartments
Nuts & Bolts: A new market offers coverage on Preferred/Standard, 5 units or more, older bldg’s. accepted with updates fully completed in the last 20 years though Praetorian Ins., 1960, One Beacon with underwriting requirements, 1965 Public Service Mutual [Magna Carta] special requirements. Call underwriter for more information.

Dollars: Limits vary.
Carrier: One Beacon, rated “A” XV by A.M. Best. Praetorian rated “A” IX by A.M. Best. Public Service Mutual rated “B++” VIII by A. M. Best. All admitted.
States: Arizona, California, Nevada.
Contact: Mike Maurer at 805-583-9828, ext.27 or e-mail
mike@applebyandsterling.com.

Dealers Open Lot Coverage
Nuts & Bolts:ARM specializes in providing property/casualty coverage for the retail automobile industry. The “Dealers Open Lot” coverage is written on a monthly reporting form and is available for all types of motor vehicles and equipment. Coverage is for auto dealers, garage areas.

Dollars: $100,000 up to $2 million.
Carrier: Lloyds of London, rated “A” by A.M. Best. Non-admitted.
States: All.
Contact: Marvin E. McDougal, 209-473-8937 or e-mail mcdougal@armonline.com.

Truckers General Liability, Spill Cover
Nuts & Bolts: True risk transfer to cover the cost of road spills. Ideal coverage for recycling haulers and others. Premiums are set by mileage. Deductible is $2,000, larger deductibles are available. Minimum premium is $1,000.

Dollars: $50,000 to $100,000.
Carrier: Lloyds of London, rated “A+” XV by A.M. Best. Admitted and non-admitted.
States: All, except Alaska.
Contact: Greg Heitmann at 201-797-1215 or e-mail
g.heitmann@ipariskmanagement.com.

Professional Liability Beauticians
Nuts & Bolts: All policies are packaged premises and professional. $3million aggregate is available. Program is self-rating. Professional liability for beauticians.

Dollars: $100,000 to $3 million.
Carrier: Lloyds of London, rated “A” XV by A. M. Best. Non-admitted.
States: All.
Contact: Susan Preston at 707-773-3336 or e-mail annie@medispa-ins.com.

Tattoo & Body Piercing
Nuts & Bolts: All policies are packaged premises. Professional liability. $3 million aggregate is available.

Dollars: $300,000 to $1million.
Carrier: Lloyds of London, rated “A” by A.M. Best. Non-admitted.
States: All
Contact: Susan Preston at 707-773-3336 or e-mail annie@medispa-ins.com.

Topics California AM Best London