New Day Standard

In This Issue

Message From the President

Surplus Lines Reform

Product Highlight - CPrL

Claims Examples

Success Stories

Green Initiative 2011

Carrier Appreciation Night

Employee Family Day

Employee Q&A - Sheryl Barr

Quick Links

Message From The President

Surplus Lines Reform Takes Effect on July 21

Signing Paper

Be careful what you wish for! The Nonadmitted and Reinsurance Reform Act (NRRA), as you are probably aware, was passed in July 2010 with implementation scheduled for July 21, 2011. Is the industry ready and in agreement on how to implement?

The NRRA was enacted to streamline tax collection and to regulate excess and surplus lines. Under the new law, the goal is for excess and surplus lines brokers to pay taxes to and be regulated by the home state of the Insureds. As anyone who has been involved with a multi-state surplus lines placement will tell you - the process is onerous, labor intensive and often time consuming.

In the past two years the marketplace for Contractor's
Professional Liability insurance (CPrL) has changed substantially - new carriers have entered the market, new coverages have been created, and new exposures have been identified. As a result, proper customization of your construction client's CPrL program has become an even greater challenge. This is a task, however, that New Day Underwriting Managers has the expertise to make easier and significantly less challenging!

Do you find yourself frequently looking for worthwhile claims examples to share with your clients and/or potential new clients? Well look no further. New Day Underwriting Managers is here to help. Our blog, New Day News and Views, is your source for over 400 pre-categorized (i.e., Pollution Legal Liability, Contractor's Pollution Liability, Contractor's Professional Liability) claims examples and it is growing weekly. We have categorized claims examples according to the type of claim to make your search for specific types of claims simple.

Read More.

Success Stories

In each of our quarterly newsletters, New Day Underwriting Managers highlights success stories that we feel have made a real difference for the insured. These success stories often reflect a cost savings to the insured or coverage enhancements for no additional premium. In this newsletter we share success stories about the following:

New Day worked with an incumbent carrier to provide the broker and insured with broader coverage and coverage enhancements at no additional cost in order to bring their coverage up to date.

New Day reviewed the professional liability policy for a client acting as an owner's representative. Several deficiencies were found in the policy. New Day sought and obtained alternative coverage with the same limits, at about the same premium and with several coverage enhancements.

New Day successfully negotiated Contractor's Pollution Liability coverage on behalf of a new broker that included multiple coverage enhancements for minimal increase to premium that mostly resulted from an increase in revenue.

Read The Details on Each Success Story.

Green Initiative Continues in 2011

As a company so heavily involved in the environmental marketplace, New Day Underwriting Reduce, Reuse, Recycle

Managers implemented a "green" initiative in Spring 2010 to make our office and company more environmentally friendly. Having been one year since its implementation, we wanted to update you on the status of this program including the expansion of the program to extend into the promotional items that we present to our staff and clients.

New Day Underwriting Managers hosted its first ever Carrier Appreciation Night at the Trenton Thunder. It was a fun-filled evening of networking and socializing with our colleagues from ACE, Allied World Assurance Company, Catlin, Chartis, Chubb, Crum & Foster, Great American, Ironshore, Liberty International Underwriters, Markel, XL , and Zurich. Please view a slideshow of the evening below.

New Day Employees Enjoy Family Day 2011

New Day held its annual Family Day at the Trenton Thunder on June 5, 2011. Employees and their families enjoyed a day of baseball, food and and fun. It was a great day and great time was had by all who attended. Please view a slideshow of the day below.

Employee Q&A - Sheryl Barr

Meet and get to know New Day's Marketing Coordinator, Sheryl Barr. With 20 years of marketing experience, Sheryl has brought a great deal of knowledge, creativity and marketing expertise to our team. Sheryl can be reached at 609.298.3516 x112 or sheryl.barr@newdayunderwriting.com.