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Special Section Sponsored by Target Markets Program Administrators Association Rockwood Programs Rockwood Programs was a start-up entity in 1996 that, today, has grown to a $40 million insurance agency specializing in management liability products. The company functions as a full-service managing general agency, fully licensed in 50 states. It has the authorities and capacities to handle property and casualty, life, and accident and health products on both an admitted and surplus lines basis. Rockwood has been involved with the Target Markets Program Administrators Association (TMPAA) since its infancy. The company’s President, Glenn Clark, had the idea of an association dedicated to the needs of program specialists almost a decade ago. “We recognized how critical it was for this unique group to have a forum to address issues that are important to them,” says Mr. Clark. “We are justifiably proud of the contributions Rockwood has made to the success of the organization.” The Wilmington, Delaware-based agency currently serves as the administrator for several nationwide programs. Rockwood’s “flagship” product is employment practices liability insurance (EPLI). Coverage is offered through Avemco Insurance Company—an A+ rated affiliate of Houston Casualty Company. The company has also established relationships with other insurers in order to provide a broader array of coverages and policy terms. “Rockwood has been involved with EPLI coverage since we first opened our doors 11 years ago,” says Darryl McCallin, vice president. “Our team is always working to ensure that the product offering stays relevant in an ever-changing marketplace. We provide a competitive rate structure, online rating tools, and an array of marketing aids to help agents sell this valuable coverage. Policyholders receive access to a fantastic risk mitigation program. This program helps our insureds identify and address employment-related issues before they become claims.” Glenn Clark also discussed another EPLI-related initiative administered by Rockwood. “Most small firms cannot afford the minimum premiums required for most traditional EPLI policies. In response, Rockwood has developed an EPLI product specifically designed to meet the needs of companies with 15 or fewer employees. The product offers meaningful coverage for as little as $500. This program is marketed under Rockwood Guardian EPLI. Our team pioneered the concept of embedding a sub-limit of EPLI on entire books of general liability and business owners policy business. This program is called Portfolio EPLI.” Insurance agents errors and omissions coverage is also available through Rockwood Programs. “Our E&O program is designed to suit the needs of retail agents primarily involved in the placement of standard risks,” states Crysta Stukis, program manager. “We have other markets available to handle larger or specialized firms.” The agency has also announced the launch of the Rockwood Defender—an initiative designed to cover the unique professional liability exposures faced by program administrators, MGAs, and large wholesalers. Both the life/accident & health, and property & casualty agents E&O programs are underwritten by Certain Underwriters at Lloyd’s of London. The company’s online rating facility was recently expanded to allow life/accident and health risks to bind coverage via the Internet. During September, Rockwood will announce significant changes in this program that will make all of its insurance agents E&O products among the most competitive in the industry. Rockwood serves as the administrator for a nationwide professional liability program for podiatric physicians. The product is underwritten through member companies of American International Group. Rockwood offers a competitive policy form and a wide array of liability limit and retention options. There are times when Rockwood receives submissions that do not fit into the eligibility parameters of any program it administers. Rather than declining these risks outright, they are referred to one of our sister companies. Rockwood Specialty is a brokerage operation created specifically to assist in the placement of unique and/or one-off risks. → Anyone interested in learning more about Rockwood’s portfolio of products can access their Web site (www.rockwoodinsurance.com). From this site, accessors can read about coverages, download applications and other pertinent information, and make submissions online. Inquiries can also be directed to the company via telephone (800-558-8808) or through e-mail at information@rockwoodinsurance.com. |
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