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Great American Insurance Group
Great American can fulfill your clients' Employment Practices Liability Insurance needs:
We now offer Costs of Defense outside the limit of liability.
This enhancement is now included, at no additional cost, on most accounts with 100 employees or less. It is also available for an additional charge to most private companies with 101-300 employees. The enhancement is only available if a $500,000 or larger Limit of Liability is purchased.
We write coverage for a broad range of business types. Great American Insurance Group writes EPL coverage for the retail, manufacturing and service industries, as well as many harder to place businesses such as auto dealers, hotels, restaurants and insurance broker/agents. Improved pricing has recently been implemented for restaurants, health care and insurance broker/agent risks.
We offer limits as low as $100,000. Limit options as low as $100,000 are available in a majority of states. In Arkansas, Maine and Missouri, limits as low as $500,000 are available.
We offer retention options as low as $1,000. $1,000 retentions are available to most private companies with ten employees or less. Minimum retentions gradually increase to $5,000 for most companies with 75 or less employees.
We typically offer Third Party Coverage for no additional premium. This enhancement is available on most business types. Some business types may be quoted with a higher, separate retention for Third Party Coverage. Third Party Coverage may also be available on health care risks for an additional premium charge.
We now offer a $100,000 sub limit for Costs of Defense on Wage and Hour claims. This enhancement provides defense costs coverage for this developing exposure typically not covered within EPL forms. The enhancement is available to most private companies with 500 or less employees.
We can write state specific or nationwide programs. Using a master policy or individual policies, Great American Insurance Group writes programs for many industry groups. We will work with you on marketing materials and policy enhancements that make your program stand out from your competition.
The Executive Liability Division of Great American Insurance Group is an experienced writer of Employment Practices Liability (EPL) insurance, targeting companies with less than 250 employees. We offer EPL coverage to both private and public companies on an admitted basis in 44 states and the District of Columbia. We currently do not offer stand-alone EPL coverage for California domiciled risks
For questions regarding your private company D&O/EPL/Fiduciary needs, contact your underwriter or call: Tim Kalteux, 847.330.6853, tkalteux@gaic.com for producers in Midwestern states; Michelle Smith, 847.330.6843, mlsmith@gaic.com, for producers in Northeastern states; Amy Fulton, 847.330.6857, afulton@gaic.com for producers in Western & Southern states.
Oak Street Funding
Oak Street Funding lends $5.5 million to support acquisition of
Arison Insurance Services from Anthem Blue Cross Blue Shield of Kentucky.
Insurance lender flourishes despite credit crunch
Indianapolis, IN- Oak Street Funding, preeminent insurance lender, completed a $5.5 million transaction that supported Assurance Investment Partners' (AIP) acquisition of the Louisville-based Arison Insurance Services, a former subsidiary of Anthem Blue Cross Blue Shield of Kentucky. AIP will use Arison as its platform to create a nationally recognized agency offering a full line of insurance and benefits services.
The Indianapolis-based Oak Street Funding, (www.oakstreetfunding.com), which pioneered commission-based lending for insurance agencies, has continued its steady growth despite the nation's credit crunch which has seen other lenders drop out of the market.
Arison was an independent life and health insurance brokerage subsidiary of Anthem until its recent acquisition by AIP. Arison now plans to offer a much broader spectrum of insurance and benefit products and services throughout Kentucky and in states east of the Mississippi River.
"We're thrilled to provide debt capital to support AIP's acquisition of Arison Insurance Services and support their plans to become a major industry force," said Rick Dennen, Oak Street's CEO.
Christina Rashid, one of AIP's managing directors, explained that AIP acquired Arison after a lengthy search process to identify a sizable agency that had the right people, infrastructure and culture to serve as AIP's platform organization. "Arison is poised to become an industry leader," she said. "Thanks to Oak Street Funding, which understands how to value an insurance agency's future earnings streams, we quickly received the debt capital needed to support our acquisition."
About Oak Street Funding
Oak Street Funding is an Indianapolis, Indiana-based commercial finance company that offers commission-based capital through lending or purchasing commissions to insurance agents. As a result, agencies can obtain the financial resources they need to achieve strategic goals such as expansion, growth and succession planning. Oak Street has entered into more than 100 partner programs with agencies, brokerage firms and insurance marketing partners, all tailored to maximize specific opportunities. Plus, it has lent millions to insurance professionals, both public and private, across the United States. Through proprietary technology, Oak Street can accurately evaluate the risks of lending. For more information, visit www.oakstreetfunding.com or call Lisa Nordhoff at 866-625-3863.
About Assurance Investment Partners
Assurance Investment Partners; with offices in Louisville, Tampa and Chicago; was established in 2007 by executives with experience in insurance as well as in mergers and acquisitions to lead an aggregation in the insurance broker dealer industry. Its four founding partners-John Koko, Daniel Needham, Christina Rashid and Joseph "Jude" Thompson-combine their deep domain expertise with access to institutional capital. AIP is looking to build Arison Insurance Services into a nationally branded top-50 independent agency offering a broad spectrum of insurance and benefit products and services, which will grow organically and through acquisitions.
Contact: For Oak Street Funding, Indianapolis, Jack E. Appleman, Wax PR, (973) 263-5455 jackappleman@yahoo.com
NAS Insurance
NAS EXPANDS ABUSE/MOLESTATION COVERAGE
NAS is expanding Abuse or Molestation Legal Expense coverage beyond the traditional risks to include individuals, groups and businesses that sponsor events on their premises, such as:
- Homeowners associations
- Property managers
- Land owners
They join the following entities already benefiting from AbMol coverage:
- Mental Health Services
- Nursing Homes
- Schools and Tutoring Services
- Churches
- Community Theater/Arts Programs
- Camps
- School Bus Companies
For additional information on Abuse/Molestation insurance, please contact Allison Hayase, Underwriter, at (818) 808-4468, ahayase@nasinsurance.com, or click on Abuse/Molestation Legal Expense and Loss Reimbursement. For more information on all of NAS' products, please visit our website at:www.nasinsurance.com.
NAS Insurance Services
Attn: Wholesale Brokers
NAS ACCEPTS OTHER CARRIERS' APPLICATIONS
NAS Insurance Services is now accepting other carriers' applications for the following coverages:
a) Managed Care - (Managed Care Webpage)
b) Miscellaneous Errors & Omissions - (Miscellaneous E&O Insurance Webpage)
c) Computer and Technology Errors & Omissions - (Computer/Technology Liability Webpage)
d) d.. NetGuardT Plus - (NetGuard Plus Webpage)
Subject to all pertinent information being provided on another carrier's application, NAS will accept a currently signed and dated application, along with a signed NAS Warranty Statement.
For additional information on application submissions and/or the above coverages, please contact:
a) Anita Ching-Bryant, Senior Underwriter at (818) 808-4474, or abryant@nasinsurance.com.
b) Kim Nibbe, Senior Underwriter at (818) 808-4460 or knibbe@nasinsurance.com.
c) Sandra Casas, Underwriter at (818) 808-4476 or scasas@nasinsurance.com.
For more information on all of NAS' products, please visit our website at: www.nasinsurance.com.
NAS Insurance Services
Attn: Wholesale Brokers
MEDEFENSE PLUS PROVIDES COVERAGE FOR RACs
The Recovery Audit Contractor (RAC) audits, initially launched in three states (California, Florida and New York), have spread nationwide!
The Federal Government has hired Claims RACs in every state to aggressively pursue and investigate large Medicare and Medicaid overpayments due to situations such as incorrectly coded claims, procedures performed which were not medically necessary, and/or services billed multiple times.
By Fall 2006, improper payments had already been identified to the tune of $303.5 million and, with RAC audits spanning the country, that number will only continue to rise-rapidly.
RAC audits are immediate, overwhelming and burdensome:
a) Government inquiries allow only 30 days for response
b) Government take-backs can occur in 60 days or less
c) Resources must be dedicated to locating and submitting records
d) Compliance and documentation are critical but not always sufficient
e) Severe penalties can be incurred for those who are unprepared
MEDEFENSE Plus offers coverage for attorney and audit costs incurred in response to RAC audits, as well as reimbursement for potential fines and penalties.
For additional information on MEDEFENSE Plus, please contact Allison Hayase, Underwriter, at (818) 808-4468, ahayase@nasinsurance.com, or click on MEDEFENSE Plus.
For more information on all of NAS' products, please visit our website at: www.nasinsurance.com.
Foremost Insurance Company
Foremost's Vacant Property Program Dramatically Lowering Rates;
Accepts Properties Many Carriers Don't Want
Grand Rapids, MI - Foremost agents can offer vacant property owners a quality product at dramatically lower rates.
Effective June 1, 2008 Foremost Insurance Company, the leading specialty insurer, is dramatically lowering rates in their vacant property program in a gradual rollout of lower rates in over 20 states through October. In some states the reduction is up to 60%.
"Many competitors don't want to insure vacant and rental homes, but Foremost does. We offer a solid policy that takes into account the type of property and how it's used," says Jeff Bair, Zone Executive Director, Foremost. "When you add significantly lowered rates and the 50+ years of specialty insurance expertise, a Foremost vacant home policy is a smart choice."
All vacant policies are full-year policies with pro-rated cancellation, subject to minimum earned premium. A new underwriting guideline also accepts vacant properties valued up to $1 million with no restriction on the age of the home.
Foremost offers a wide variety of specialty insurance products for manufactured homes, specialty homeowners, motor homes, travel trailers, motorcycles, off-road vehicles, personal watercraft, boats and collectible autos. To find out more and to book a vacant policy, agents log onto ForemostStar.com
To become appointed with Foremost, call (800) 237-6136 of visit ForemostStar.com
Oak Street Funding
Oak Street Funding, Preeminent Insurance Lender,
Receives Another $20 Million from M&I Bank
Oak Street Flourishes While Other Lenders Struggle Amid Credit Crunch
INDIANAPOLIS, IN - Oak Street Funding announced it has received $20 million from M&I Bank, Indianapolis, strong evidence that banks continue to support the company despite a severe credit crunch that has seen other lenders default on loans and drop out of the business. The Indianapolis-based Oak Street Funding, (www.oakstreetfunding.com), which is fast emerging as the preeminent lender for the insurance industry, pioneered commission-based lending for agents and agencies.
Rick Dennen, Oak Street's CEO, said that the new credit facility now gives the company upwards of $275 million in capital to fund insurance professionals. "The latest $20 million will allow us to continue our product expansion and offerings to the insurance industry and is a testament to our firm's strength amid the serious lending crisis."
He added that, "Oak Street continues to flourish - because we've always done the right thing for agents - by not overleveraging them." Since its founding in 2003, Oak Street has been a responsible lender, said Dennen. "We'll continue to help insurance agents and agencies achieve their goals in the coming years."
"M&I Bank is pleased to support the Indiana business community by providing credit to strong organizations like Oak Street," said Bill Bower, senior vice president, commercial lending, M&I Bank. "Prior to First Indiana Bank's merger with M&I Bank, First Indiana had a lending relationship on a smaller scale with Oak Street. As M&I, we now have the capital backing to increase our funding, supporting their growth."
About Oak Street Funding
Oak Street Funding is an Indianapolis, Indiana-based commercial finance company that offers commission-based capital through lending or purchasing commissions to insurance agents. As a result, agencies can obtain the financial resources they need to achieve strategic goals such as expansion, growth and succession planning. Oak Street has entered into more than 100 partner programs with agencies, brokerage firms and insurance marketing partners, all tailored to maximize specific opportunities. Plus, it has lent millions to insurance professionals, both public and private, across the United States. Through proprietary technology, Oak Street can accurately evaluate the risks of lending.
For more information, visit www.oakstreetfunding.com or call Lisa Nordhoff at 866-625-3863.
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