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


Unique Programs Launched To Address Complications Of Surgery, Legal Battles
Whether you're going under a surgeon's knife or hiring an attorney to take a business contract dispute to court, there are risks of unintended outcomes, but until recently you couldn't buy insurance to cover them. Two program managers—a former executive of a medical malpractice insurance company and a plaintiffs' attorney—have separately launched what they believe to be groundbreaking specialty insurance programs designed to address complications that can arise from such professional services arrangements.


Wage-Hour Suits A Growing Uninsured Risk, Advisen Finds
Insurers have been slow to respond with coverage for wage-and-hour lawsuits that have been an escalating…threat to companies of all sizes over the past decade, Advisen Ltd. said in a new study.

Large Professional Firms, Big EPL Risks
It is a mistake for agents to place management liability for law firms and accounting firms as if their clients were manufacturers or retailers, according to wholesaler Peter Taffae of Executive Perils. Even the definition of "employee" needs careful consideration, he writes in this article that reviews a host of issues agents need to address when placing employment practices liability and directors and officers coverage for professional firms.

Market Access Not Enough For Wholesalers
Anyone who has attended a panel discussion at NAPSLO over the last few years has heard one question come up over and over again, mainly addressed to wholesaler broker members. "Where do you add value? How does your firm define its value proposition?" Brokers attending the Mid-Year Leadership Forum of the National Association of Professional Surplus Lines Offices, Ltd. last month said market access is not the right answer.

Sports Centers, Recreational Facilities Facing More Risks In Tough Economy
Waiver-Release and Assumption of Risk forms are the first line of defense against claims for entertainment venues, according to Grace Cunningham, managing underwriter at R.B. Jones Insurance. In an article she wrote for NU, she lists key elements of waiver forms and delineates alternative risk management procedures for recreational businesses that do not lend themselves to the use of such forms.

Nestle Insures Candy Product Through Lloyd's
Nestle USA said it has secured a $1 million insurance policy through Lloyd's of London as part of an advertising campaign for its Butterfinger confection. The policy is designed to ensure the ongoing production of Butterfingers. Nestle USA said it has created the Butterfinger Bar Insurance program to allow for a free replacement bar should someone "lay a finger" on a Butterfinger confection—a reference to the product's tagline.

This Month in NU Magazine
In National Underwriter magazine this month, 35-year-old managing general underwriter, NAS Insurance Services, is featured in an article in which CEO Richard Robins describes how a change in delivery model helped jumpstart the success of one of his firm's many specialty programs—MEDEFENSE. Also in the April 12 edition, in an exclusive article written for NU, Beazley's Jerry Sullivan explains why a depressed economy is a blueprint for trouble at design firms.

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