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Insurance Noodle
Insurance Noodle Expands Online Quoting Platform
ACE Partnership Offers Immediate, Bindable Quotes for
Directors & Officers, Errors & Omissions
CHICAGO, IL, September 1, 2011 - Insurance Noodle, part of Willis North America, a unit of Willis Group Holdings plc (NYSE: WSH), the global insurance broker, today announced that its online quoting platform for small commercial accounts has added the management and professional liability products of ACE Commercial Risk Services® to its offerings.
ACE Commercial Risk Services, the U.S.-based small business division of the ACE Group, now provides immediate, bindable D&O and E&O quotes to insurance agents through the Insurance Noodle online "hub." Management and professional liability insurance is provided by Westchester Fire Insurance Company, an A.M. Best A+ rated carrier, or in some states, other insurers within the ACE Group or its allied distribution associates. Ace joins Insurance Noodle's six other platform carriers who provide business owners policies (BOP), general liability, auto liability and workers compensation coverages.
"The strategic alliance with ACE Commercial Risk Services allows us to bring management and professional liability coverages to the quoting hub, allowing agents to expand solutions they offer their insureds," said Ralph Blust, Executive Vice President of Willis Commercial Network. "Agents can now get quotes for E&O, D&O along with primary coverages. This is a time savings for agents and provides improved service to their insureds," Blust said.
Speaking on behalf of ACE Commercial Risk Services, David Lupica, Division President said, "We're pleased to collaborate with Insurance Noodles' team of experienced professionals to further extend the availability of our specialized management and professional liability products and services to the Insurance Noodle network of producers. ACE is one of the only carriers offering online processing of management and professional liability products. The online submission process offered through Insurance Noodles' new quoting hub provides agents with an efficient, cost-effective and simple method for a complete rating, quoting and binding solution."
Insurance Noodle launched its new quoting hub on July 5, 2011, signing up over 1,000 agents in its first three weeks in operation. The hub allows agents to access seven national, admitted carriers for bindable multi-line quotes from a single online application point, within minutes. Insurance Noodle is the distribution vehicle for the Willis Commercial Network North America, which provides products and services to small insurance agents and brokers. More enhancements to the network are in development and a personal lines platform is expected to launch by year end. Agencies interested in signing up for Insurance Noodle 2.0 can visit www.insurancenoodle.com, call
888-466-8868 or email membership@insurancenoodle.com.
About Willis Group Holdings
Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 17,000 employees serving clients in virtually every part of the world.
Additional information on Willis may be found at www.willis.com. For more information about Insurance Noodle, visit www.insurancenoodle.com or call 888-466-8868.
About ACE Group
ACE Commercial Risk Services is an operation with the ACE Group that is dedicated
to providing specialty insurance products that offer solutions for small business
insurance needs in North America. ACE Commercial Risk offers its products through
retail agents and brokers, wholesale brokers and wholesale producers, program
agents and other alternative distribution models. Additional information can be found at
www.acecrs.com. The ACE Group is a global leader in insurance and reinsurance
serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), a
component of the S&P 500 stock index, the ACE Group conducts its business on
worldwide basis with operating subsidiaries in more than 50 countries. Additional
information can be found at www.acegroup.com.
NAS Insurance Services
NAS' MANAGED CARE FACILITY INCLUDES NETGUARD COVERAGE
NAS Insurance Services announces an enhanced feature of its Managed Care Errors and Omissions facility. A $25,000 sublimit for NetGuard™ Plus, NAS' Network Security product, is included for no additional premium. Increased limit offerings are available.
NAS Insurance Services is an underwriting manager located at 16501 Ventura Blvd., Suite 200, Encino, CA 91436, telephone (818) 382-2030, fax (818) 382-2040, website www.nasinsurance.com.
Instec
Instec Releases Businessowners and General Liability Multistate
Rules and Rates Changes
Rates and Rules Support Delivered
Over One Hundred Days Ahead of Effective Date
Naperville, IL, June 6, 2011 - Instec, a leading provider of software and services to the Commercial Property and Casualty insurance industry, announced inclusion of ISO's revision to the Businessowners Multistate Rules, which contains the introduction of separate Building and Business Personal Property Relativities.
In conjunction with supporting separate Building and Business Personal Property Relativities for the Businessowners Multistate Rules, Instec's quicksolver 3 also includes revisions for:
- Liability Relativities
- Increased Limit Factors
- Rate Number Relativities
- Construction Relativities
- Public Protection (Fire) Classification Relativities
- Sprinklered Factors
- Loss Costs
State adoptions were implemented with an ISO Effective date of August 1, 2011. Instec delivered these changes to clients on April 15, 2011, which was 105 days prior to the effective date.
Additionally, Instec also released the ISO General Liability Multistate revisions to support new alternative energy and nanotechnology classifications. Instec's support for the ISO General Liability Multistate Classification Table revisions includes new alternative energy and nanotechnology classifications. These were implemented with an ISO effective date of September 1, 2011. Instec delivered these revisions on April 15, 2011, which is 108 days prior to the effective date.
"We're a long-standing ISO partner, and we make sure our clients receive the updated rates, rules, and forms so they have lead time to analyze the impact on their book of business and ensure their compliance," said Kevin Mason, VP of Product Development and Maintenance for Instec.
About Instec
Instec is a leading provider of software and services to the Commercial Property and Casualty insurance industry. Founded in 1982, Instec's flagship product, quicksolver, is a best-of-breed rating and policy administration solution that supports the full lifecycle for all major lines of business, in all 50 states, and with native bureau rate, rules, forms, and statistical content. As a Microsoft Gold Certified Partner, Instec delivers insurance software solutions that enable our clients to drive competitive advantages in rating, issuing, and reporting to maximize profitability.
For more information, visit www.instec-corp.com. Media Contact: Carey Straetz, Instec, cstraetz@instec-corp.com, 630.799.6485
Markel Corporation
Markel Corporation Releases Updated DataBreachSM Policy
Richmond, VA, June 20, 2011 - Markel Corporation has announced a timely update to their DataBreachSM cyber liability policy amidst recent reports of increased hacking activity.
The new form will offer broader coverage and higher limits while maintaining the current structure, which is ideal for small to medium-sized accounts. The Breach Mitigation Expense coverage has been expanded in two key areas. First, the amount of coverage automatically included in the policy has increased to $250,000, while remaining outside of the limit of liability and not subject to a deductible or co-pay obligation. The second key enhancement to the Breach Mitigation Expense coverage is the inclusion of data compromise at a third party or outside vendor. Markel will continue to offer the option to purchase higher Breach Mitigation Expense coverage. Other policy enhancements include a $250,000 dedicated fines or penalties sublimit, forensic costs specifically included in the first party coverage option, and available policy limits as high as $10 million.
Target classes include medical facilities, insurance agencies, regional banks, and Internet-based companies; however, underwriters welcome submissions for all classes.
"We're very excited to bring our updated DataBreach policy to the marketplace. It's uniquely suited to meet the needs of all organizations with a particular focus on small and middle market firms by providing broad coverage in a straightforward, easy to understand structure. The policy is backed by a powerful combination of our underwriting and information security expertise at Markel," said Jake Kouns, Markel's director of cyber security and technology risks.
Kouns joins Inga Goddijn, Markel's managing director of Miscellaneous E&O, in leading the Markel DataBreach product line team. Jake joined Markel in 2005 in Information Security and has more than ten years experience in information systems. As a recognized expert in the field of data security, Jake has presented at various information security conferences, co-authored two books on security and risk management, and was interviewed by CNN regarding the recent Epsilon security breach. Inga has been underwriting professional liability risks for Markel for 13 years, the past five in a product management role. Kouns, Goddijn, and a team of seasoned underwriters put Markel in a unique position in the industry, providing both solid underwriting expertise and technical, real world knowledge of data security.
Markel DataBreach coverage is accessible through Markel's network of appointed wholesale brokers, which can be found on markelcorp.com under "Find a Broker."
ABOUT MARKEL CORPORATION
Markel Corporation markets and underwrites specialty insurance products and programs to a variety of niche markets. In each of these markets, the Company seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting profits and superior investment returns to build shareholder value.
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