Proposed Coverages to be added to the Export List
Auto Physical Damage
Coverage for commercial trucks, black cars, limousines and other commercial passenger transportation vehicles. These are risks characterized by unfavorable underwriting attributes that are deemed unacceptable to licensed insurers.
Excess Salary Protection (Disability) Insurance
High excess disability coverage and/or disability coverage which licensed insurers are unwilling to write in part due to moral hazards.
Recreational Liability Insurance
Parachuting, Bungee jumping, Hunting clubs, Fishing clubs, Camp grounds, Children’s camps, Gymnastics, Spas, Athletic teams, Dance schools and other clubs, camps and recreational business operations. These are unique risks that licensed insurers are unwilling or unprepared to write.
Builders Risk Insurance
Coverage for construction projects where the total insured values exceed $10,000,000. These are high capacity risks requiring high insurance limits that exceed the capacity of licensed insurers.
Primary and/or Excess “Liability” Insurance for Vacant or Unoccupied Buildings
Vacant properties are distressed risks characterized by unfavorable underwriting attributes that are deemed unacceptable to licensed insurers. Beyond the vacant property hazard concerns, vacant property can become a liability hazard to the public and municipality (fire, police or utility workers).
Excess Professional/Errors & Omissions Liability - All Classes
Excess liability coverage where the underlying policy limits and/or self insured retention is at least $10,000,000 per occurrence. These are high capacity risks requiring large insurance limits where the buyers tend to be sophisticated and the guaranty or security fund is of limited value.
Request for a reduction in the number of declinations to zero for the following coverage types, currently on the export list requiring two declinations
Primary or Excess Errors and Omissions/Miscellaneous Professional Liability Coverage (other than Medical Malpractice Insurance), including general liability coverage (if included in the same policy) with respect to the following risks or coverages:
- Alcohol and/or drug rehabilitation centers;
- Alcohol and/or drug rehabilitation programs;
- Residential facilities including convalescent centers, nursing homes, and assisted care facilities;
- Day care centers for adults, children or the physically or mentally disabled;
- Halfway house for adults, children and/or the physically or mentally disabled;
- Hospices care service providers;
- Social services agencies;
- Foster care service providers; and
- Home health care providers