A customer slips in the parking lot. A freezer goes on the blink, spoiling a shipment of beef. A smoky electrical fire leads public health authorities to order the destruction of all food in the store. Without a comprehensive insurance program, any of these incidents can trigger a financial headache for supermarket owners who operate on an already thin profit margin.
The Hartford has launched a new broad-based program designed specifically for mid-sized supermarkets. This program works to "reduce slips and falls by involving supermarket management in early claim investigation and by defending claims vigorously." The program offers expanded liability at no extra charge for the expanded services that supermarkets now offer, such as professional liability coverage for pharmacists and liquor liability for beer or wine sold by the supermarket.
A broad range of other coverages include equipment breakdown and business interruption; workers compensation, employment practices liability, commercial auto; umbrella; crime; and marine.
To help keep losses to a minimum, The Hartford is offering its policyholders assistance from its staff of loss control experts, including a copy of a risk management guide for supermarkets with proven loss control tips and an accident claim kit to help supermarket managers gather appropriate information to facilitate the claims process.
The supermarket program is available in 40 states. Interested parties should call Paul Joudrey at (860) 547-4279.
Reliance offers new property policy
Reliance has launched a new product, Property Elite, designed to cover a broad spectrum of property risks without the need for supplemental endorsements.
Coverages include: equipment breakdown, pollution cleanup, ordinance or law, computer virus, incompatibility of software, off-premises utility services, portable office equipment, and foundations and pipes.
Special features include: broad named insured protection and no coinsurance.
Property Elite can be customized to provide coverage for unique exposures, and coverage can be extended to scheduled locations outside the United States.
Concurrent with the launch of Property Elite, Reliance is introducing Property Premier, a product that offers broad-based protection yet enables insureds to choose from a menu of options to tailor coverages to meet their specific needs.
Hartford broadens E&O for printers
Hartford Financial Services Group expanded the errors and omissions coverage it provides for printers, adding new standard features (at no charge) as well as an optional "Correction of Work" feature (at an additional charge). The latter feature pays the cost to correct errors discovered after a print job has been distributed--including the cost of recall, reprinting, packaging and shipping the corrected order--such as flyers promoting a concert which are printed with the wrong date.
Coverage amounts for the Correction of Work option range from $100,000 per claim/$100,000 aggregate to $1 million per claim/$3million aggregate.
The broadened features which The Hartford has added at no charge include:
--damage done to the property of others, such as a customer's T-shirts that were silk-screened incorrectly;
--work performed by a subcontractor.
The coverage also reimburses the postage paid for a job that must be reprinted and reshipped. The new E&O form features flexible pricing options, defense expense coverage outside the limits of insurance, and a broad definition of who is an insured.
The Hartford's specialized program for printers includes property coverage for risks posed by flammable liquids, paper storage and press breakdowns. It also provides workers compensation, general liability, commercial auto and umbrella coverages.
The program is designed for mid-sized commercial printers, including lithographic and gravure printers, typesetters, photocopying and duplicating service companies, and firms specializing in post-press services such as binding and die cutting.
The Hartford's E&O form is currently approved in 33 states and is expected to be available nationwide by year-end.
Travelers introduces contractors liability policy for commercial risks
Travelers Property Casualty is offering a new contractors liability policy designed for the needs of commercial contractors. The policy offers broader coverage than what is provided by the standard ISO GGL form.
The policy includes coverage for: past joint ventures or partnerships, blanket waiver of subrogation clause, broadened definition of bodily injury, nonowned watercraft, work within 50 feet of a railroad or for a contract with a railroad, and an expanded definition of "insureds."
For more information, visit Travelers Web site at: http://www.travelerspc.com.
Staffing services package introduced by CNA
CNA has introduced a new package policy designed for firms in the business of staffing professions that include medical, engineering, architecture, legal, programming and accounting. The policy includes not only E&O coverage, but also options such as special property coverage, businessowners liability, EPLI and sexual misconduct vicarious liability coverage. Customers can choose limits and deductibles for each coverage.
This coverage is designed for professional employer organizations, temporary help services, permanent placement employment agencies and executive search firms. Firms placing clerical and blue collar workers are eligible.
More information about this policy may be obtained by calling Smith, Bell and Thompson at (800) 735-1800.
Chubb enhances political risk insurance product capabilities
The Chubb Group of Insurance Companies announced that it has increased its political risk per risk capacity to $50 million and the policy term to five years for investment risks and has expanded its product offerings. Investment risks include confiscation, expropriation and nationalization. New products available include contract frustration, wrongful calling of guarantee, and non-repossession of assets.
For further information, contact Pat Skold at (908) 903-7050 or Fredrik Murer at (908) 903-5637.
Kemper offers program for law firms
Kemper Insurance Company has introduced Kemper Law to provide insurance that is geared specifically to the needs of law firms. The coverage is offered to firms with 24 or fewer attorneys.
The coverage is designed around a policy that covers a broad range of perils and then specialized coverages for case files, valuable papers, computers, telephone systems, law libraries, practice interruption on a billable hours basis and fine arts.
For more information, visit Kemper's Web site at: www.kemperinsurance.com.
©COPYRIGHT: The Rough Notes Magazine, 1998