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IRMI is Almost here
The 31st IRMI Construction Risk Conference will be held November 13-17, 2011 at the Hilton San Diego Bayfront in beautiful San Diego, California. New Day is proud to once again be a sponsor at this premier forum for networking and improving the management of construction risk. If you would like to schedule an appointment to see a New Day team member, please email info@newdayunderwriting.com or call us at 609.298.3516. Please look for us as well on Monday, November 14 from 7:30 AM to 9:00 AM at the New Day sponsored breakfast. We look forward to seeing you there.
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New Day Attending Velocity Users Group Conference
New Day has been utilizing Velocity, the agency management system created by VRC Insurance Syste ms of Westlake Village, CA. The New Day team has been very active in the Velocity Users Group and Jeff Lejfer, Michele Lejfer and Maureen Efthyvoulou will be attending this year's meeting in Westlake Village on October 12 - 14, 2011. This year's theme, "Shooting for the Green" will highlight some of the new innovations that VRC will be introducing to Velocity including web interfaces and scripting to allow for more efficient processes within the system. New Day will be presenting at the meeting since we have already been utilizing the scripting feature in 2011. The continued participation in the Users Group provides New Day with a forum to leverage the full power of Velocity by interacting with many super users from across the country.
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Surplus Lines Reform Update
In the last issue of the New Day Standard we provided our thoughts on the Surplus Lines Reform law that was to take effect on July 21, 2011. Well, July 21st has come and gone and the law is now in effect. So, what has happened since the law took effect? Read more for an update on Surplus Lines Reform.
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Success Story
New Day received a request from a retail broker-partner to obtain terms for a professional liability insurance policy for an insured whose current policy was not being renewed due to the carrier exiting the professional liability insurance market.
The insured employed several licensed engineers and designed, manufactured and installed shade structures. The design involved civil and structural engineering and the installation involved construction of foundations and the erection of the structural elements.
The expiring policy was an Architects & Engineers Professional Liability insurance policy and, while it did provide some coverage, it was not completely appropriate for the risk and did not cover the installation/construction activities of the insured which was a significant component of the exposure base.
New Day approached several markets and had discussions with underwriters where we explained the risk in detail. Despite that a number of markets declined to quote, New Day was able to obtain competitive terms for a Contractor's Professional Liability insurance policy that provided coverage for both the design and construction activities and also contained several coverage enhancements which resulted in a significant broadening of coverage for the insured. The policy included a broader definition of Professional Services which was a better fit to the insured's operations and was placed with an established, financially strong carrier that has been committed to the market for many years.
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Product Highlight - Owner's Protective Professional Indemnity
With the limited number of carriers offering project professional liability, differences in professional liability insurance from one carrier to the next and the high cost of insuring the design team on a traditional construction project, many owners are now turning to Owner's Protective Professional Indemnity Insurance (OPPI) and Owner's Protective Professional and Excess Contractor's Pollution Liability Insurance (OP3) to insure their exposure associated with design liability and other professional risk when hiring design professionals or design builders. New Day Underwriting Managers can enhance the education of our broker partners with regards to these products and assist them in obtaining the optimal risk management solutions for their insureds.
Read More
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Claims Examples
 The staff at New Day is continuously searching the media for relevant environmental and construction related claims examples. Hundreds of our finds are located on the New Day blog. We invite you to take a look at and subscribe to the blog so you are kept up to date on all of our posts. Be sure, however, to modify your "email frequency" to weekly as the default is "immediate." Doing so will ensure that you are not inundated with emails as we are updating the blog daily.
We have sorted all of the claims on our blog according to the type of insurance that may be relevant based on the specific claim. In addition, each of the categories below are divided into subcategories to make finding what you are looking for even easier. Click below to access claims in the following categories. If you need any assistance with using the New Day blog, please contact Sheryl Barr at sheryl.barr@newdayunderwriting.com or 609-298-3516 ext. 112.
Architects & Engineers Professional Liability Contractor's Pollution Liability Contractor's Professional Liability Owner's Protective Professional Indemnity Pollution Legal Liability |
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Join New Day at the 3rd Annual Mark Elgin Memorial Golf Outing
New Day's Jeff Slivka is once again organizing the 3rd Annual Mark Elgin Memorial Golf Outing. The outing this year will be held on Thursday, October 6, 2011 at the Downingtown Country Club. Jeff has been the driver behind this outing since Mark Elgin passed away. Mark was not only a former co-worker and close personal friend of Jeff's but also and more importantly a friend to many at New Day and in the insurance industry.
If you would like more information about participating in this golf outing or about sponsorship, click here for the registration form or contact Jeff Slivka at 609.298.3516 ext. 102 or at jeff.slivka@newdayunderwriting.com. Contributions to the hole sponsorships go directly to the Elgin Children College Fund. |
Employee Q&A - Jeff Lejfer, President & CEO
Meet and get to know New Day's Founder, President and CEO, Jeff Lejfer. With over 30 years in the insurance industry, Jeff has built New Day Underwriting Managers to be a leader in environmental and construction related insurance products. Providing the optimal insurance solutions to New Day's partner brokers and their insureds has been Jeff's focus for the past six years. Jeff can be reached at 609.298.3516 ext. 101 or jeff.lejfer@newdayunderwriting.com.
Read here for a question and answer session with Jeff. |
We hope you enjoyed the new format for the New Day Standard.
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ce to be held October 10-13, 2011 
