The Chubb Group of Companies introduced a package policy covering a wide range of risk faced by exporters. The Exporters Package Portfolio is designed to be expandable as a company's overseas risks grow--both by increasing the limits and by adding difference in conditions coverage. Chubb also can help the customer secure locally admitted policies where necessary.
Exporters Package Portfolio includes the following coverages: blanket travel accident, personal property, business income, general liability, commercial auto, crime, employment-related practices hazard, excess medical, foreign voluntary workers compensation, kidnap/ransom and extortion, open ocean cargo, political risk and products withdrawal expense.
General liability limits are available up to $2 million. The basic limits for other coverages, which can be increased by endorsement are: open ocean cargo--$100,000; commercial auto excess--$1 million; employment-related practices hazard--$250,000; excess medical--$10,000; repatriation expense--$250,000; kidnap/ransom and extortion--$100,000; political risk--$50,000; and products withdrawal expense--$20,000.
Chubb has a network of 115 offices in 32 countries. Medical assistance, doctor referrals and coordination of complex medical evacuations for employees, their spouses and children traveling with them overseas are provided through an agreement with MEDEX, a provider of travel assistance programs.
Chubb's Multinational Claim Unit offers a toll-free phone number form nearly anywhere in the world so that customers can report claims and receive prompt assistance in more than 140 different languages.
In the event of a kidnapping or extortion threat, Portfolio customers have access to the Ackerman Group, an international firm experienced in handling kidnappings and extortions.
Hartford adds coverages to greenhouse growers program
The Hartford Insurance Group expanded its program for wholesale greenhouse growers by adding coverages and naming a new program administrator: Hilb, Rogal & Hamilton. The program is open to all agents in 32 states.
Nursery operators E&O has been added to the program, and personal lines farmowners and multi-crop coverages are now available through the company's International Agri-Business Group in Omaha, Nebraska.
"With the addition of our nursery operators E&O coverage," said Michael Thulis, The Hartford's senior account director, specialty programs, "clients are protected if the growing stock of trees, shrubs or plants fails to conform to a customer's specifications, the wrong tree, shrub or plants are delivered, or stock is delivered late or to the wrong location."
The program provides property, commercial auto, workers compensation, crime, general liability, inland marine and umbrella liability. It also provides equipment breakdown protection, which covers costs to repair mechanical or electrical equipment and damage to crops caused by equipment failure. Programs can be customized to meet the needs of individual greenhouse growers.
The Hartford will provide coverage for greenhouses constructed of tempered safety glass, pressurized double-walled polyethylene, fiberglass, acrylic or polycarbonate.
To be eligible for the program, greenhouse growers must have a minimum of $500,000 in annual sales and do the majority of their business on a wholesale basis.
The program is available in the following states: AL, AZ, CA, CT, DE, GA, ID, IN, KY, MA, MD, ME, MI, MS, MT, NH, NJ, NM, NV, NY, OH, OR, PA, RI, SD, TN, UT, VA, WA, WI, WV AND WY.
For more information contact
Bob Hilb of Hilb, Rogal & Hamilton: (800) 388-4474.
CNA introduces home warranty coverage
CNA has introduced a home warranty product to be sold through independent agents either in conjunction with the purchase of a CNA homeowners policy or on a stand-alone basis. CNA Home Warranty will provide coverage for mechanical systems and appliances in a house or condominium including water heater, air conditioning and heating units, electrical, plumbing, washer, dryer, dishwasher and range. It covers the normal wear and tear breakdowns--both parts and labor--which are excluded under most homeowners policies.
The CNA Home Warranty allows the insured to choose the service business to make any necessary repairs, or, if the home owner prefers, CNA will recommend a local service firm from its network.
CNA is offering the warranty product in alliance with Home Security of America (HSA) which CNA acquired in July 1998. There are no coverage limitations or premium adjustments due to the age or square footage of the house.
Hartford opens AAA road service program to all agents
The Hartford's AAA Emergency Road Service (ERS) and Approved
Auto Repair (AAR) insurance program, which it offers to AAA service providers, is now available to all property/casualty agents. The program, endorsed by the American Automobile Association (AAA), includes commercial auto, garage/garage keepers legal liability, inland marine, workers compensation, umbrella, property and crime coverages.
The program also includes a coverage it calls "on hook" which protects the insured's customers against certain losses that may occur to their vehicles' contents--such as cellular phones or golf clubs--when the vehicles are in tow.
Approximately 11,000 AAA service providers are eligible, but the program is not for new car dealerships.
Agents can receive more information from The Hartford's AAA information line: (800) 307-6250 or from Roy Roberson at The Hartford: (860) 547-5107.
Community bank group renews contract with St. Paul
The Independent Bankers Association of America (IBAA), has renewed its contract with St. Paul Fire and Marine Insurance Company for the IBAA/St. Paul Insurance Program. The program--which offers major coverages to the association's 5,500 members--now has been extended through 2003.
IBAA's members are locally owned and operated community banks. Coverages available through the St. Paul program include financial institution bond, directors and officers liability, trust E&O, employment practices liability, bankers professional liability, kidnap/ransom and other property and liability coverages including foreclosed trusts and mortgage holders E&O and impairment.
Member banks purchasing the program's property, casualty and workers compensation coverages
are eligible to participate in the dividend program. In its 17-year history, the program has returned almost $7.5 million in dividends to participating IBAA-member banks--an average annual dividend of 8.5%.
Royal & SunAlliance offers e-commerce crime policy
The Professional & Financial Risks Practice of Royal & SunAlliance introduced a commercial crime insurance form which covers
e-commerce risks. The policy covers property losses stemming from computer crime as well as the expense of restoring the insured's computer programs.
The new form provides:
--coverage for investigative expenses associated with losses under each insuring clause
--broad coverage for employee theft of client's property
--broad definition of employee (including outside consultants, attorneys and CPAs)
--loss sustained or discovery option
--actual cash value or replacement cost option
--certified securities coverage
--broad coverage for forged payment instruments payable to or drawn on the insured
--money orders and counterfeit currency (standard in the form)
More information is available
at the company's Web site: www.royalsunalliance-usa.com or from the Professional & Financial Risks Customer Center: (800) 697-7564.
Travelers introduces "Under 100" EPL policy
In order to meet the growing employment practices liability needs of smaller businesses, Travelers Bond has developed the "Under 100" employee program. Coverage is provided for defense costs and damages involving allegations of wrongful termination, discrimination, sexual or protected-status harassment as well as numerous other workplace-related issues.
A special feature of this program is Risk Management Plus which includes training for front-line managers, updated human resource policies, personnel forms and risk management news. It also addresses employee theft, workers compensation fraud and workplace violence.
For information, contact Robert Schueler at (860) 277-3915. *
©COPYRIGHT: The Rough Notes Magazine, 1999