Special Section sponsored by

PROGRAM ADMINISTRATOR

New Empire Group, Ltd.

Key offerings administered: High limit commercial umbrella programs for the real estate industry. The “Smart” insurance programs, “Smart” Co-op & Condo, “Smart” Hotel & Motel, and “Smart” Property Managers E&O.

High Limit Commercial Umbrella Programs

New Empire offers brokers and managing general agents (MGA) commercial umbrella programs that feature higher limits and lower premiums for a multitude of exposures. The company provides exceptional pricing and fast turnaround on quotes/binders. Coverage limits begin at $5 million, with options for $10 million, $15 million, $25 million, $50 million, and $100 million.

Robert E. Mackoul, CLU, New Empire’s chief executive officer, says, “We help MGAs and brokers sell their primary coverages by offering them the umbrella solution that makes them more competitive in the marketplace. Our programs are written through many of the insurance industry’s most trusted carriers, such as the Chubb Group, Navigators, Travelers, and Zurich.”

New Empire Group administers unique programs that deliver umbrella coverage for a variety of real estate risks. Two separate, distinct programs provide coverage for:

• Cooperatives—condominium associations
• Homeowner associations
• Garden apartments
• Strip malls
• Commercial & office buildings
• Industrial buildings

One of these special programs is designed for large and mid-size risks. The other focuses on small real estate risks, and offers low and no minimum premiums for coverage. Other real estate umbrella programs are written for hotels & motels, student housing, independent living residences, and affordable housing.

“Our broker and MGA clients know they can count on our ability to offer solutions quickly,” says James O’ Neill, New Empire’s director of primary programs and vice president of business development. “We work very hard to build strong relationships in every agency where we do business, because no matter how much technological savvy we might have, people still do business with people! However, to assist agents and brokers further, we’ve enhanced our Web site to give them the opportunity to rate their risks online. It’s a tremendous benefit to brokers by providing an immediate indication before beginning our fast underwriting process.”

The “Smart” Series of Primary Programs

In 2009, New Empire Group launched the “Smart” Series of Primary Programs, insuring Cooperatives and Condominium Associations, Hotels & Motels, and Property Managers Errors and Omissions.

Cooperatives & Condominiums—The “Smart Condo Program” addresses needs of inner city small to medium size structures such as apartment buildings, brownstones, and lofts. The program is offered in New York, and is currently expanding on the east coast. It is admitted and underwritten by Praetorian, one of the QBE of the Americas Companies (AM Best “A+”).

Hotels & Motels—The “Smart Hotel & Motel Program” is a package policy addressing the needs of well maintained franchised hotels and motels throughout the U.S. The program provides comprehensive coverage and custom endorsements for qualified risks at extremely competitive premiums. It is available in all 50 states and underwritten by QBE of the Americas (AM Best “A+”).

Property Managers Errors & Omissions—The “Smart Property Managers Errors and Omissions Program” is designed for small to medium size property management firms with less than $5 million in annual revenues. It features comprehensive liability coverages and custom endorsements for property management firms that qualify. The program is underwritten by Federal Insurance, a member of the Chubb Group of Insurance Companies (AM Best “A++”). Admitted in all states except Alaska, Arkansas, Louisiana, Vermont and Wyoming.

Another recently inaugurated offering is New Empire’s Environmental Program For Real Estate Risks. It features site pollution coverages—above and below ground storage tanks, lead paint, and asbestos—for buildings that qualify. This nonadmitted program is underwritten by a member company of the ACE Insurance Group (AM Best “A”).

All New Empire principals have many years of retail agency experience. “We know that brokers require quality products and great pricing, but above all, outstanding service. We continually aim to satisfy,” said Underwriting Vice President Robert G. Mackoul, Jr. “We strive to build long-term relationships by recommending companies and products with high degrees of integrity while, at the same time, providing the exceptional service that our retail brokers and MGA clients expect and deserve.”

New Empire Group, Ltd.
214 West Park Ave.
Long Beach, NY 11561
Phone (516) 431-8300
www.newempiregroup.com