The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com.
Eliminate Forced Placed Coverage
Market Detail: John-Galt (SafetyNet) introduces a new insurance product eliminating force-placed insurance. This voluntary product includes property and flood coverage for homeowner clients provided by certain underwriters at Lloyd’s. John-Galt is looking to appoint a few agencies to offer this product. Coverage provided by this program is half the price of force-placed insurance. Being able to provide this coverage can reduces an agency’s errors and omissions exposure.
Available limits: As needed.
Carriers: Underwriters at Lloyds. “A” rated by A.M. Best. Non-admitted.
States: All.
Contact: Jim Rudd at 954-818-1246 or e-mail juan@noforceplaced.com.
Concessionaires and Vendors
Market Detail: International Excess Agency Inc. offers a package of coverage for concessionaires and vendors. Available coverages include a package policy including inland marine all the way down to monoline general liability coverage. Eligible classes of insureds include: indoor or outdoor vendors, seasonal lots or tents, flea market vendors, fair vendors, hot dog vendors, newsstands, mall kiosks and Christmas tree lots. Insureds can be located almost anywhere. Coverage can be extended to include office and warehouse locations. Coverage features include a flat charge per stand, a limited number of additional insureds at no additional charge; the availability of hired and non-owned auto coverage; and the policy is non-auditable. Minimum premiums begin at $275.
Available limits: $100,000 to $1 million.
Carriers: US Liability Insurance Co. “A++” rated by A.M. Best. Admitted and non-admitted.
States: Ala., Ariz., Ark., Calif., Colo., Conn., Del., D.C., Fla., Ga., Idaho, Ill., Ind., Iowa, Kan., Ky., Maine, Md., Mass., Mich., Minn., Miss., Mo., Mont., Neb., Nev., N.H., N.J., N.M., N.Y., N.C., N.D., Ohio, Okla., Ore., Pa., R.I., S.C., S.D., Tenn., Texas, Utah, Vt., Va., Wash., W. Va., Wis. and Wyo.
Contact: Kenneth Kukral at 216-797-9700 or e-mail kkukral@intlxs.com.
Small Business E&O Program
Market Detail: S.H. Smith & Co. Inc. offers an exclusive errors and omissions program for small businesses. Coverage is tailored for specific classes of business and includes protection against disciplinary proceedings (up to $5,000), personal injury coverage, mutual selection of defense counsel and punitive damage coverage (where allowed by law). Coverage options include independent contractor coverage and defense outside limits. Target classes include real estate related services, consulting services, tech related services along with many classes of business not generally considered by other markets such as title agents, abstractors, escrow agents and collection agents. Minimum premium is $1,000 and deductibles begin at $2,500.
Available limits: $250,000 to $3 million.
Carriers: Endurance American Specialty Insurance Co. “A” Rated by A.M. Best. Non-admitted.
States: Ala., Alaska, Ariz., Ark., Calif., Colo., Conn., D.C., Fla., Ga., Hawaii, Idaho, Ill., Ind., Iowa, Kan., Ky., Maine, Md., Mass., Mich., Minn., Miss., Mo., Mont., Neb., Nev., N.H., N.J., N.M., N.Y., N.C., N.D., Ohio, Okla., Ore., Pa., S.C., S.D., Tenn., Texas, Utah, Vt., Va., Wash., W. Va., Wis. and Wyo.
Contact: Charles P. Bellingrath at 860-561-3600 ext. 362 or e-mail Charles_Bellingrath@SHSmith.com.
Architects & Engineers E&O
Market Detail: Executive Perils Inc. offers an architects and engineers errors and omissions program. Coverage features include: the pollution exclusion does not apply to professional services, no exclusion for bodily injury or property damage, a 50 percent deductible credit on mediated claims, disciplinary proceedings expense coverage up to $12,500 and predecessor in interest covered. Minimum premiums begin at $3,500.
Available limits: As needed.
Carriers: Unable to disclose. Rating not provided. Non-admitted.
States: All.
Contact: Damien Magnuson at 310-444-9333 or e-mail damienm@eperils.com.
Environmental & Pollution Risks
Market Detail: NIP Specialty Brokerage LLC makes available a stand-alone pollution liability program or a combined pollution liability/general liability for the following classes of insureds: asbestos/lead/mold abatement and assessment contractors; emergency response/haz-mat contractors, including soil excavation and bio-remediation; underground storage tank and above-ground tank installation, maintenance and/or removal contractors; environmental risks assessment contractors; environmental agency construction or project management and other contractors of this type. Minimum premiums begin at $2,500 and minimum deductibles begin at $5,000.
Available limits: Starting at $1 million.
Carriers: “A” rated by A.M. Best. Non-admitted.
States: Ariz., Calif., Colo., Conn., Del., Fla., Ga., Ill., Kan., Ky., La., Md., Mass., Mich., Miss., Nev., N.H., N.J., N.Y., N.C., Ohio, Pa., Tenn., Texas, Wis. and Wyo.
Contact: Dean Mortilla at 800-446-7647 or e-mail dmortilla@nipgroup.com.
Vacant Property
Market Detail: Foremost Insurance Co. brings agents the Foremost Vacant Insurance Program. Agents have binding authority on properties valued up to $500,000 – no need to call in or fill out paperwork. The policy is annual and can be cancelled at any time (subject to minimum earned premium). Vacant properties valued up to $1 million are eligible with no restriction on the age of the home. This policy also offers high liability limits. The policy is renewable for up to 24 months and offers flexible payment plans.
Available limits: $5,000 to $1 million in property value.
Carriers: Foremost Insurance Co. “A” Rated by A.M. Best. Admitted.
States: Ala., Ariz., Ark., Calif., Colo., D.C., Ga., 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., Pa., S.C., S.D., Tenn., Texas, Utah, Vt., Va., Wash., W. Va., Wis., Wyo.
Contact: Emily Kathi at 616-956-2164 or e-mail emily.kathi@foremost.com.
Commercial Property Facility
Market Detail: RISC brings to market a commercial property program designed for a diverse class of operations. All commercial and habitational classes are considered with the exception of explosives, fertilizer, hazardous materials, sawmills, heavy manufacturing and nightclubs. This program offers underwriting flexibility, quick turnaround and a broad appetite of diverse business classes. RISC provides competitive pricing within a 48-hour or better turnaround time. Highlighted classes include habitational risks such as condominiums and apartments. No wind coverage is available in Florida or any first tier counties in the gulf or Eastern Seaboard. Additionally, there is no wind capacity within 100 miles of the Gulf in Alabama, Louisiana and Mississippi. There is no minimum premium nor is there a minimum deductible.
Available limits: Up to $10 million.
Carriers: Underwriters at Lloyd’s. “A” Rated by A.M. Best. Non-admitted.
States: All.
Contact: Chris Hayes at 214-220-0859 or e-mail hayes@gorisc.com.
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