Advisen's New Products Announce m e nt s for February 2005
Included : ACE Global Markets Announces Privacy Insurance Progra ms; AIG’s
ProgramCon nect Expands Offerings; CNA Targets Financial Institution Bonds
and D&O; CNA Writing Fiduciary Liability for Multi- employer Plans; The
Hartfor d Introduces Universal Excess Policy for Management Liability; The
Lightho u se Compa nies Offer Professional Liability for Healthcare
Administra tor s; Republic Group Adds New Farm and Ranch Program
ACE Global Markets Announces Privacy Insurance Programs
ACE Global Markets will manda te URAC’s HIPAA privacy and security
accreditation progra m s for several of its new insurance offerings. The
progra m s are available to URAC- accredited compa nies through Healthcare
First, a unit of Arthur J. Gallagher & Co. ACE’s new insura nce policies provide
liability coverage for exposur es such as health - related privacy and security
violations, specific HIPAA damages, unaut h ori ze d access, unaut h ori ze d
disclosure of healthcare informa tion, e- publishing violations, and Web- content
liability. For more information, see www.acelimited.co m .
AIG’s ProgramConnect Expands Offerings
Risk Specialists Cos. Inc., a subsidiary of American International Group, has
expan d e d its AI Risk ProgramCon nect system, an online specialty lines quote
and bind system for surplus lines agents and brokers. The syste m’s
enhance me n t s offer agents and brokers greater access to a range of specialty
lines coverages available online, including home inspector s liability, architects
and engineers liability, employme nt practices liability, liquor legal liability,
miscellaneous professional liability, and railroad protective liability. For more
information, see www.airisk.com .
CNA Targets Financial Institution Bonds and D&O
CNA Pro Open Brokerage has partnere d with Scarboroug h, a subsidiary of Aon,
which will be a managing general underwriter offering bonds, director s and
officers liability, and related product s to financial institutions. The target
clients are comm u nity banks with assets under $1 billion. This progra m is an
expansion of the standar d lines progra m annou nced in 2004. As an MGU,
Scarboro ug h will be responsible for underwriting, servicing, marketing, and
administr ation, and CNA will handle claims manage me n t. For more
information, contact Kim Waller, managing director of underwriting,
Aon /Scarb or o ug h, 200 East Randolph Drive, 17 th Floor, Chicago. Ill., (800) 525 -
2968; fax (312) 381 - 6215, scarborough@fpr si.com ; or visit www.cnapro.com .
CNA Writing Fiduciary Liability for Multi- employer Plans
CNA Pro Open Brokerage has teame d up with Ambridge Partners LLC, which
will be the managing general underwriter for fiduciary liability insura nce for
multi - employer plans. This new program expand s a current relations hi p with
Ambridge covering transactional facilitation insurance, which provides for
various contingencies that can affect the completion of business deals such as
mergers and acquisitions, asset sales, and restructu rings. Ambridge is
respo n sible for underwriting, servicing, marketing, and administration of the
coverage, while claims manage m e n t will be perfor me d by CNA. For more
information, contact Jeffrey Cowhey, Ambridge Partners, 135 West 29 th Street,
Suite 801, New York, NY 10001, (212) 871 - 5402, fax (212) 947 - 1838,
jcowhey@ambridgepa r t n e r s.co m ; or visit www.cnapro.com .
The Hartford Introduce s Universal Excess Policy for Management Liability
The Hartfor d Financial Services Group Inc. has introduce d Universal Excess, a
new excess insurance policy that can be written over directors and officers
liability, fiduciary liability, employme nt practices liability, miscellaneous
professional liability, and tech - related errors and omissions policies issued by
any carrier, without the need to work out complex endor se m e n t language to fill
potential coverage gaps. The policy, which is available for public and private
compa nies of all sizes: follows primary policies’ exclusions, definitions, and
severability clauses; allows underlying limits to be paid by the insured if a
primary insurer becomes insolvent; has a discovery clause that follows the
primary policies for the purpose of extending the claim reporting period;
contains no subrogation, appeals, or “other insurance” sections; and cannot be
cancelled by the insurer except for non - payment of premiu m. For more
information, visit www.hfpins ur a nce.co m , or call Patricia Fitzgerald at 1- 212 -
277 - 0457.
The Lighthouse Companies Offer Professional Liability for Healthcare
Administrators
The Lighthou se Companies, a progra m underwriting company that works with
select industry groups, has introduced VitalCare, a personal professional
liability policy developed exclusively for employed healthcare administr at or s.
Policies are underwritte n and issued, and claims are handled by, Chubb Group.
The program is endor sed by the American College of Healthcare
Administra tor s, and member s of that organization may qualify for a premiu m
discou n t. For more information, contact Sahar Javan The Lighthou se
Companies, 7630 Little River Turnpike, Suite 200, Annandale, Va. 22003, (703)
770 - 3700, fax (703) 770 - 3720, sjavan@lighthou s eco m p a nie s.co m .
Republic Group Adds New Farm and Ranch Program
The Republic Group has introdu ce d a farm and ranch progra m that includes
coverage for property, machinery, busines s autos, and livestock. Soon to be
released is a farm umbrella product. Heading up the farm and ranch progra m is
Roll Wagner, who has 25 years of experience in the insurance indust ry’s
agribusines s sector. He was formerly a senior progra m underwriter with Gulf
Insurance Group. Republic writes insurance in Louisiana, New Mexico,
Oklaho m a, and Texas. For more information, contact The Republic Group, 2727
Turtle Creek Boulevard, Dallas, Texas 75219, (214) 559 1222, fax 214 748 9590,
www.RepublicGrou p.com .
To learn more about Advisen, visit www.advisen.com or call +1.212.897.480 0
Copyright Advisen, Ltd., 2005