Inland Marine and Property

Transcription

1 Inland Marine and Property Specialized Coverages Berkley Fire & Marine Underwriters writes on behalf of Berkley National Insurance Company Berkley Regional Insurance Company, StarNet Insurance Company. Refer to the policy for the applicable insurer, each of which has sole financial responsibility for its own products and services.

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3 Table of Contents Providing the Right Coverage and Building Strong Relationships About our Company 4 Inland Marine 5 Builders Risk 6 Commercial Output Policy (COP) 7 Contractor s Equipment 8 Equipment Sales and Rental Coverage 9 Fine Arts 10 Motor Truck Cargo 11 Logistics Legal Liability 12 How We Are Different 13 Contact Information 14 3

4 About Our Company We are Committed to Serving our Customers through Strong Relationships Berkley Fire & Marine Underwriters is a W. R. Berkley operating unit offering preferred inland marine and related property risks and services. As a member of The W. R. Berkley Corporation companies, rated A+ by A.M. Best and Standard & Poors, we couple solid financial standing with exceptional local service, tailored to your needs and those of your clients. Our regional offices bring together underwriting, claim and risk services teams which provide local accessibility, availability, and above all, responsiveness. We offer our products through independent agents, wholesalers and brokers serving clients throughout the United States. We create deep relationships with our distributors and partner with them to bring our solutions and services to their customers. We take a broad approach to underwriting for best in class businesses throughout various industry segments including construction and transportation and logistics. We are an underwriting company oriented to serving customers who seek value in solutions and service. Our solutions may be from within Berkley Fire & Marine Underwriters or from other W. R. Berkley Corporation member companies. In dealing with our team, you will find far more than fancy slogans or rhetoric. You will find professionals who exemplify our core values of customer focus, teamwork, professionalism, honesty, integrity and underwriting excellence. It is only through their commitment and dedication that we are able to create deep relationships and successfully expand the organization. 4

5 Inland Marine Coverage Supporting the Needs of Businesses Unlike many companies whose general underwriters occasionally handle Inland Marine coverage, we are a company of Inland Marine and property specialists, with over 200 years combined experience, who focus exclusively on providing this coverage. Because of our expertise, we provide a much wider range of Inland Marine and property options. The following are descriptions of some of the available coverage we provide on a regular basis. Construction Products Builders Risk covers materials and supplies that will become a permanent part of the buildings or structures, foundations, scaffolding, temporary or permanent fencing, and other temporary structures. Builders Risk for Residential Builders providing specialized coverages for residential builders. Contractors Equipment Floater covers equipment on premises, during transport and at the job site. Riggers Liability On hook coverage for third-party liability for damage to property being hoisted by a rigger. Installation Floater covers building supplies during transport and installation, including theft from the job site. Transportation Products Motor Truck Cargo covers goods of others in transit, during loading and unloading, while insured is acting as a common or contract carrier. Logistics Legal Liability provides coverage for cargo legal liability, warehousing and both freight brokering and freight forwarding operations. Warehouse Legal Liability covers costs associated with investigating and defending lawsuits if you store goods for others and they suffer a loss. Transportation Shippers Interest Trip Transit One time shipments of goods Freight Brokers Covers the liability of freight broker Other Products Fine Arts covers museums, galleries, and other businesses which house, transport, sell or loan artwork or other valuable collections. Electronic Data Processing (EDP) covers damage or loss to insured s computer equipment, software, and information. Bailee Customers Floater covers the property of others while it is in your care. Examples include dry cleaners and all types of repair shops. Equipment Dealers covers equipment dealers and rental operations of various types of equipment. Miscellaneous Floater covers specified equipment or goods that are not generally included in other policies. Accounts Receivable covers money due to the insured when there is a loss of accounts receivable records. Rail Road Rolling Stock Covers the engines, cars, rails, and other associated property of rail road lines and those who lease rail cars. Commercial Output Program Provides property coverage for various occupancies. Medical Diagnostic Equipment Covers medical equipment both fixed and mobile. Acadia Insurance Company Continental Western Insurance Company Firemen s Insurance Company of Washington, D.C. Union Insurance Company 5

6 Builders Risk A Program Designed to Remove the Debris in Your Current Plan Builders Risk coverage is critical to contractors, owners and developers as it protects against the unique property loss exposures associated with construction projects. Standard coverage forms generally do not take into account all the risks involved in construction projects, such as increased exposure to the elements, fluctuating property values, property in transit and more. Builders Risk can protect contractors, owners and developers against these risks and more. In fact, construction contracts often require one party to acquire Builders Risk to ensure proper coverage throughout the process. Property Covered Materials and Supplies to Become a Permanent Part of the Building Foundations Excavations Grading Filling Attachments Permanent Fencing and Other Permanent Fixtures Scaffolding Construction Forms or Temporary Fencing Temporary Structures at the Jobsite Automatic Coverages Provided in Form IM 7050* Expediting Expenses $10,000 any one occurrence Expense to Re-Erect Scaffolding $5,000 Fire Department Service Charges $1,000 any one occurrence Personal Property $10,000 any one occurrence Pollution Cleanup and Removal $25,000 Rewards Coverage $1,000 any one occurrence Sewer Backup Coverage $10,000 Storage Locations $10,000 Transit $10,000 Trees, Shrubs and Plants $10,000 (specified perils coverage Property Not Covered Aircraft, Watercraft, Contraband, Land, Money & Securities, Vehicles, and Existing Buildings or Structures, unless endorsed on the policy. *Supplemental limits and Extensions of Coverage limits can be increased upon request. Coverage can be written on one-time basis or on a blanket reporting form. Note: These coverages are a representation of those available at the time of printing. Consult your agent for those coverages best suited to your business needs. 6

7 Commercial Output Policy Coverage Customized to Protect your Return on Investments Our Commercial Output Policy (COP) is designed to protect against the risks faced by large organizations operating in a wide range of industries and institutions including manufacturing, municipalities, industrial, processing and distributing operations. Our policy includes extensive Property and Inland Marine coverages and can be customized to fit the needs of your business. The following are examples of our standard coverages under the COP. Most limits can be increased or decreased to meet individual insured s needs. Accounts Receivable... $50,000 Arson Reward... $10,000 Computers Off-Premises... $25,000 Debris Removal Consequential Loss... Included Electronic Data Processing... Included Expediting Expense... $50,000 Fine Arts... $100,000 Fire Department Service Charge... $25,000 Fraud & Deceit... $5,000 Inventory and Appraisals... $50,000 Laptop Computers... $25,000 Locations Not Described... $50,000 Mobile Equipment... Included Newly Acquired Property (Building) at Each Building... $500,000 Newly Acquired Property (Personal Property) at Each Premises... $250,000 Ordinance Increased Cost of Construction... $100,000 Outdoor Property... $50,000 Outdoor Signs Attached and Not Attached... Included Personal Effects... $15,000 Personal Property of Others... Included Pollutant Clean Up... $50,000 Property in Transit... $50,000 Property at Trade Show... $50,000 Sewer Backup... $25,000 Software Storage... $50,000 Underground Property... $250,000 Utility Services... $50,000 Valuable Papers and Records... $100,000 Note: These coverages are a representation of those available at the time of printing. Consult your agent for those coverages best suited to your business needs. Acadia Insurance Company Continental Western Insurance Company Firemen s Insurance Company of Washington, D.C. Union Insurance Company 7

8 Contractor s Equipment The Right Tools for the Coverage You Expect A contractor needs the right tools to complete work properly and before a contract deadline. Unfortunately, these tools are susceptible to damage and theft, and coverage is generally excluded under standard policies. With Berkley Fire & Marine Contractor s Equipment coverage, our insureds know these tools that support their business are properly protected. Property Covered The property covered includes the insured s equipment and equipment of others in the insured s care, custody or control as long as it is included on the schedule. Automatic Coverages Provided (Limits can be increased) Claim Preparation Expense - $25,000 Employee Tools - $5,000 any one occurrence Equipment Leased or Rented From Others - $50,000 Fraud and Deceit - $50,000 Underground Equipment Coverage - $50,000 Waterborne Equipment Coveage - $50,000 Construction Trailers and Contents $10,000 with $50,000 Occurrence Limit Continuing Rental or Lease Reimbursement - $25,000 Employee Tools - $10,000 Expediting Expense - $5,000 Newly Acquired Property Rental Reimbursement - $25,000 Reward for Recovery of Stolen Equipment - $10,000 Spare Parts, Accessories and Fluids - $25,000 Unintentional Errors and Omissions- $25,000 Additional Highlights No Weight of Load Exclusion No Boom Exclusion Blanket Policies Available Various valuations available ACV, RC, and Stated Value Automatic Acquisition of Equipment Coverage available Property Not Covered (Unless specifically endorsed) Aircraft, watercraft, contraband, vehicles designed for highway use unless they are self propelled vehicles designed to carry mounted equipment. Note: These coverages are a representation of those available at the time of printing. Consult your agent for those coverages best suited to your business needs. Acadia Insurance Company Continental Western Insurance Company Firemen s Insurance Company of Washington, D.C. Union Insurance Company 8

9 Equipment Sales and Rental Coverage Equipment Coverage that Runs Straight On and Off Premises The intent of the Equipment Sales And Rental Coverage form is to provide coverage for equipment that is for sale or lease/rental by equipment dealers. IM 7700 provides coverage for equipment and other related property while at a described premises and for off-site exposures. Property Covered Most equipment dealers are located in rural areas on several acres of land. A dealer will have one or more buildings that house a showroom, offices, a parts department, and a service department. Because of the size of some equipment, dealers will also show and store equipment outdoors in storage yards. Inside And Outside Building Coverage Separate Limit Coverage Equipment Intended For Sale Equipment You Lease Or Rent To Others Equipment Of Others You Are Repairing Or Servicing Accessories, Fluid And Lubrication Supplies, And Tires Supplemental Coverages Equipment On Exhibition... $100,000 Equipment Sent Off-Premises For Repairs. $100,000 Newly Acquired Premises... $100,000 Off Premises Trial Period... $100,000 Pollutant Cleanup and Removal... $25,000 Sewer Backup... $5,000 Transit... $100,000 Valuation ACV Or Replacement Cost Optional Endorsement Forms Available IM 7713 Property You Lease or Rent to Others IM 7716 Installment Sales Coverage IM 7717 Peak Season Coverage IM 7718 Repair Service Coverage IM 7719 Tools IM 7721 Equipment Hauling Coverage Note: These coverages are a representation of those available at the time of printing. Consult your agent for those coverages best suited to your business needs. Acadia Insurance Company Continental Western Insurance Company Firemen s Insurance Company of Washington, D.C. Union Insurance Company 9

10 Fine Arts A Fine Arts Package with Coverage that Protects against the Unexpected The various Fine Arts policies Berkley Fire & Marine can offer are designed to insure both the dealer and collector of rare, historic, valuable pieces of art such as tapestries, vases, paintings, etchings, etc. This coverage can be applied to furniture and jewelry as well. The items can either be scheduled or listed under a blanket coverage form. Fine Arts Dealers coverage is designed to cover museums, galleries, and other businesses which house, transport, sell, or loan artwork or other valuable collectibles. The Fine Arts Floater coverage is intended to cover a piece or several pieces on loan to a business or displayed publicly. These exposures can be a piece from a private collection displayed in an office or several items on loan to a business or foundation for exhibition. Fine Arts Coverage Newly Acquired Premises...$5,000 Newly Purchased Property $5,000 Storage Locations...$5,000 Diminished Value the reduced value of the property based on the difference between the value of covered property before the loss and the fair market value of the property after the damage has been repaired. Transit...$5,000 Debris Removal 25% of the value of the loss plus an additional $10,000 if necessary Valuation based on Purchase Price and Acquisition Expense Emergency Removal Expenses...$1,000 Fraud and Deceit...$1,000 Coverage is also provided for: Property of Others Sold Property Note: These coverages are a representation of those available at the time of printing. Consult your agent for those coverages best suited to your business needs. 10

11 Motor Truck Cargo Protection that is Designed Outside the Box to Help Carry the Load The Berkley Fire & Marine Motor Truck Cargo Legal Liability Coverage Difference Our New Motor Truck Cargo Legal Liability Coverage (MTC) policy is designed to protect against losses to cargo and shipments of a third party. Our MTC Legal Liability provides coverage to the extent of the insured s legal responsibility for property being shipped and for the amount of liability for a loss. You Get What You See! We provide you with Broad Coverages without the addition of many add-on exclusions competitors will include later. Few Exclusions Contract Penalty Coverage Included Tow and Wrecker Expenses Customized Limits The following are examples of coverage typically found under our New Motor Truck Cargo form. Limits can be customized, to meet an individual insured s needs. Terminal Location - limit varies based on the needs of the insured Debris Removal Expenses...$50,000 Expediting Expenses...$5,000 Sue and Labor Expenses...$50,000 Fire Department Service Charges...$5,000 Earned Freight Charges...$25,000 Newly Acquired Terminals...$100,000 Pollutant Cleanup and Removal...$25,000 Moving Equipment...$25,000 Rewards...$10,000 (where permissible by law) Flexible reporting terms and conditions Note: These coverages are a representation of those available at the time of printing. Consult your agent for those coverages best suited to your business needs. 11

12 Logistics Legal Liability In Transit, Storage or Brokered We have a Stacked Program that is Perfectly Aligned Our New Logistics Legal Liability Coverage is designed to protect against losses to cargo and shipments of a third party. Additionally coverage is available for warehousing, freight brokers and freight forwarders. A unique product available to cover 3PL providers in the ever expanding transportation and logistics industry. The coverage will cover the legal liability of common and contract carriers, freight brokers, freight forwarders, and warehouseman for loss to covered property that has been accepted or directly arranged for transportation or storage. Coverage Examples The following are examples of coverage typically found under our New Logistics Legal Liability form. Limits can be customized, to meet an individual insured s needs. Cargo in transit and while at a terminal Location - limit varies based on the needs of the insured Property while in storage coverage Freight forwarder or Freight Broker coverage Debris Removal Expenses...$50,000 Expediting Expenses...$5,000 Sue and Labor Expenses...$50,000 Fire Department Service Charges...$5,000 Earned Freight Charges...$25,000 Newly Acquired Terminals...$100,000 Pollutant Cleanup and Removal...$25,000 Moving Equipment...$25,000 Rewards...$10,000 (where permissible by law) Flexible reporting terms and conditions Note: These coverages are a representation of those available at the time of printing. Consult your agent for those coverages best suited to your business needs. 12

13 How We Are Different At Berkley Fire & Marine We Exceed Expectations and Remain Financially Strong As a national carrier with a local presence, Berkley Fire and Marine is committed to delivering creative solutions to our independent agents, brokers and customers How Berkley Fire & Marine Is Different... Our People Berkley Fire & Marine Underwriters long-term strategy is built around relationships and service. At every level of the company we respond promptly and fairly with quality service. The key to our success is the highly qualified, experienced professionals who work together to provide claims, loss control, underwriting and policy services. Their expertise, experience and responsiveness are our competitive advantage. Close to the Customer We maintain a strong, local presence in each of our markets, keeping underwriting close to the customer. Our offices are staffed with experienced people who know each of their geographical areas and are focused on the needs of their customers. Berkley Solutions One of the unique advantages we have as part of W. R. Berkley Corporation is the ability to access other W. R. Berkley member companies to collaborate on specialized Berkley Solutions for our agents and their customers. These partnerships allow us to customize coverages to provide complete solutions within W. R. Berkley Corporation. Visit us today at berkleymarine.com 13

14 Marine Contact Information Providing the Right Coverage and Building Strong Relationships Executives John T. Geary President D M jgeary@berkleymarine.com Richard S. Beasley Chief Operating Officer D M rbeasley@berkleymarine.com Debra Brickner Senior Claims National Claims Director D dbrickner@berkleymarine.com Support Mailing Address & Service Center 8044 Montgomery Road, Suite 505 Cincinnati, OH P F bfm@berkleymarine.com Claims Reporting P , Option 6 F claims@berkleymarine.com Billing P.O. Box Irving, TX P , Option 7 billing@berkleymarine.com Home Office 425 North Martingale Rd, Suite 1520 Schaumburg, IL P F For More Information Find us directly at berkleymarine.com For a complete contact listing visit, berkleymarine.com/contactus.php On the Web General information and more berkleymarine.com New Business Endorsements and Inquiries bfm@berkleymarine.com Billing Questions Please call us at the number(s) above or us at billing@berkleymarine.com Claims Questions Please call us at the number above or us at claims@berkleymarine.com 14

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16 Mailing Address 8044 Montgomery Road, Suite 505 Cincinnati, OH P F berkleymarine.com Berkley Fire & Marine Underwriters writes on behalf of Berkley National Insurance Company Berkley Regional Insurance Company, StarNet Insurance Company. Refer to the policy for the applicable insurer, each of which has sole financial responsibility for its own products and services.