National Underwriter's Guide to the E&S/Specialty Lines News


Insurers 'Green Up' Gray Coverage Areas For Construction, Property Management Operations
Insurers are slowly tackling some unique liability risks of green-building projects, with endorsements to cover defense and crisis management costs incurred to counter green whitewashing allegations and environmental exposures arising from construction, waste disposal and equipment maintenance activities. Costs incurred to upgrade undamaged properties to LEED certification levels or to pinpoint the parties responsible for failing to achieve such standards remain uncovered for now, however.


Slim Pickings For Services Industry Risks
With unemployment sky high and discretionary spending way down, restaurants, hotels and other service industries are seeing cuts in sales and payroll, leaving carriers to fight over a smaller portion of insurable exposures. Wholesale brokers have even observed standard markets taking on liquor liability risks—an activity that is generally unheard of even in softer markets.

Why E&O Brokers Should Approach Additional Insured Requests With Caution
Knee-jerk reactions by E&O brokers to fill requests to add their insureds' customers onto their professional liability policies are ill-advised, according to Damien Magnuson, a specialty broker for wholesaler Executive Perils.

New Filing Trend Shows Securities Class Actions Decreasing
Researchers delivered good news to directors and officers liability insurers who cover defendants in securities class actions, revealing that the number of actions plummeted 24 percent in 2009, falling to 169 in total.

OneBeacon Sells Renewal Rights To Hanover Insurance
In a move demonstrating that its principal focus will be on a $1 billion book of specialty insurance business going forward, OneBeacon sold the renewal rights to its non-specialty commercial lines policies to The Hanover Insurance Group in December. The deal included rights to small commercial accounts and to the non-specialty portion of OneBeacon's middle-market business, beginning with a Jan. 1, 2010 effective date and representing roughly $490 million in direct premiums.

Tiger Wood's Woes Help Broker Push Reputation Coverage
The revelations surrounding Tiger Woods' infidelities have helped one broker promote a new coverage aimed at organizations that built their branding campaigns around a celebrity whose reputation becomes tainted.

This Month in NU Magazine
In National Underwriter magazine this month, the Jan. 11 edition includes additional reports on construction risks, including a feature on groundbreaking E&O coverage for architects and designers of green buildings launched by Argo Insurance Brokers. Also included is a review of risk-control basics for agents who want to strengthen their long-term relationships with their construction contractor customers presented by two executives of Travelers.

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