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NIP Specialty Brokerage has a new
facility to help agents/brokers replace business insurance policies
cancelled or non-renewed because their clients have filed for
reorganization or liquidation under the federal bankruptcy laws.
Businesses forced to file Chapter 7 or
Chapter 11 bankruptcy often find it extremely difficult to gain or keep
the necessary insurance coverage required to protect the business such as
Directors & Officers (D&O), General Liability (GL), Property and Workers
Compensation (WC).
With the current economy, Professional Liability claims
are on the rise. As a result, we are seeing a hardening market on the
PL side. EPLI, E&O, D&O and EBL suits are surfacing rapidly. NIP
Specialty can also assist you with your PL placement.
NIP Specialty is working with "A" rated carriers to
provide coverage for risks of this nature. We are seeking the
following:
COMMERCIAL PACKAGES
· GL/Auto/Property
· Minimum
Premium: $15,000 Property/GL
· Minimum
Premium: $25,000 Property/GL/Auto
CASUALTY - GC &
Deductible - Premium Target of $50,000
· General
Liability
o
Manufacturing
o Commercial
Real Estate
o Wholesale
Trade (Durable & Non Durable Goods)
· Auto
Liability
o Health
& Social Services
o Colleges
& Universities
o Non-Emergency
Patient Trans
o Contractors
o Sales/Service
Fleets
· Workers
Compensation
o Multi-State
Risks
o Real
Estate
o Manufacturing
o Wholesale
Distributors
o Business/Management
Services
UMBRELLA - $25M
Capacity
· Manufacturing
· Commercial
Construction
· Misc.
Retail
· Real
Estate
· Wholesale
Trade
· Schools
& Universities
· Business
Services
· OCIP/CCIP
Wrap-Ups (most states)
E&S CASUALTY
· Products
Liability
· Commercial
& Residential Contractors
· Commercial,
Mercantile, Hospitality, OLT (including liquor)
· Service
Industries (Janitorial, Equipment Rental, Etc.)
· OCIP/CCIP
Wrap-Ups (most states)
E&S UMBRELLA - $10M
Capacity
· Auto
Buffer - Target of $100,000
· Products
Liability
· Commercial
& Residential Contractors
· Commercial,
Mercantile, Hospitality, OLT (including liquor)
· Service
Industries (Janitorial, Equipment Rental, etc.)
MISCELLANEOUS
PROFESSIONAL LIABILITY
· Up
to $10M in Capacity and minimum premiums and deductibles starting at
$2,500
· Primary
& Excess Limits Available
· Punitive
Damages
· PI
Coverage
· Defense
for Fraud, Dishonest & Intentional Acts
· Defense
for Discrimination
· Innocent
Insured Coverage
· Independent
Contractors Coverage
· Early
Claim Resolution Incentive
· Classes
Available (but not limited to):
o
Appraisers
o Auctioneers
o Consultants
o Temp
or Perm Staffing
o Lawyers
o Accountants
o IT
o Insurance
Agents & Brokers
MANAGEMENT LIABILITY
·
E&O
· D&O
· EPLI
· Financial
Institution and Commercial Fiduciary Liability
· Classes
Available:
o
Insurance Companies
o Investment
Advisors
o Security
Broker/Dealers
o Banks
o Misc.
Financial Institutions
o Non-Financial
Institutions
o Public
o For
Profit
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