Posted on 27 Dec 2011
At ProgramBusiness.com, we're taking a look back at 2011 and recapping some (this is by no means an all-inclusive list) of our Storefront’s changes, new product announcements and services. We look forward to 2012 and seeing what our MGAs, wholesalers, carriers, and vendors have in the works as well!
· Zurich announced its agreement to become the underwriter for World Wide Specialty Programs, the recognized market leader in providing insurance services for the staffing industry for more than 40 years.
· Markel Corporation acquired THOMCO, a privately held program administrator underwriting multi-line, industry-focused insurance programs. THOMCO manages over 20 national programs including Medical Transportation, Senior Living, Childcare Centers, Fitness Clubs, Pest Control Operators, Tanning Salons and Inflatable Rental Operators, among others.
· Program administrator Mainstay Insurance Group rebranded as Fulcrum Insurance Programs, and launched several new products and services, including: Fulcrum for Hotels/Resorts, Fulcrum for Casinos, an expansion of its habitational market, an expansion of its Umbrella program, a new web-based Risk Management Center platform, and more.
· 123ocp.com, an on-line platform providing easy access to Owners and Contractors Protective Liability (OCP) and Railroad Protective Liability coverages, added Project-Specific Pollution Liability for contractors.
· Crump Insurances Services launched several new and expanded programs, including: a nationwide Homeowners Insurance program with coverage for risks with animals, trampoline, and unprotected pools; an expanded RoadsideMASTERS program through 5Star Specialty, to include bus and waste hauler vehicles; Owner's Protective Indemnity Coverage (OPPI), which provides professional liability coverage and insures the owner as opposed to the design team; and Build-Sure General Liability, coverage for operations in the manufacture, assembly, or distribution of manufactured homes and buildings used as dwellings, offices, and other occupancies including ancillary trades.
· NSM Insurance Group's Express Hotel Program launched a program providing property coverage for accounts that are hit with an infestation of bed bugs. The endorsement is designed to pay costs to get rid of bed bugs, up to a total of $5,000 per year.
· Victor O. Schinnerer & Company’s Real Estate Errors & Omissions Program has been chosen by the NATIONAL ASSOCIATION OF REALTORS® (NAR) as a new offering for its members through the REALTOR Benefits® Program.
· NAS Insurance Services launched a program for Medical Billers and Coders. The E&O program includes: coverage for third party claims arising out of a wrongful act in the performance of or failure to perform medical billing and Coding Services; MEDEFENSE™ Plus provides coverage for defense costs and fines and penalties from governmental and private payor allegations of improper billing (including RAC & ZPIC Audits); NetGuard™ Plus provides coverage for Network Security and Privacy Liability, Customer Notification and Credit Monitoring Expenses, Regulatory Fines and Penalties, Data Recovery Costs, and Multimedia Liability.
· Five Star HealthcareTM, a division of Crump Insurance Services, Inc., launched a new insurance program for Senior Living Facilities. The program, offered through an A.M. Best A XV rated carrier, is targeted to senior living operations such as independent and assisted living facilities, including those with limited skilled nursing exposures.
· Professional Program Insurance Brokerage (PPIB) launched several new programs, including a national program for yoga-related business, coverage for weight loss centers, and a program for artisan contractors.
· Sloan Mason, which specializes in property and casualty insurance and reinsurance for energy, marine, environmental and heavy industrial accounts, expanded into Latin American facultative reinsurance business in January 2011.