|
Message From The President
Click below to view a video message from Jeff Lejfer.
|
|
Product Highlight - Combined Commercial General Liability/Pollution Legal Liability (GL/PLL)
The Environmental Casualty Marketplace is beginning to follow suit with the general casualty marketplace with upward rate pressure ranging from 5% to 10% for accounts with no losses and higher for accounts with claims. In addition, New Day Underwriting Managers continues to see carriers limiting classes of business, revising forms, and increasing underwriting scrutiny. As a result, renewing environmental casualty accounts and writing new business is becoming a greater challenge.
New Day has been successful in assisting brokers with the ever changing environmental casualty marketplace and the needs of their clients. Recently, we successfully negotiated environmental casualty coverages for a number of insureds including a soil treatment company; chemical distributor of oilfield chemicals; and a fertilizer manufacturer. Read more. |
|
Success Stories
New Day often likes to share success stories to demonstrate our expertise in negotiating policies for our broker partners including reduced premium, increased coverage terms, or possibly different coverages than what were previously held by an insured but really necessary in presenting a truly optimal solution to meeting their risk management needs. This quarter, we discuss two success stories. Read more about each by clicking their title.
|
|
Looking for General Liability/Pollution Legal Liability Claims?
 The previous article presented an overview of New Day's environmental casualty product. As such, it seems appropriate to offer examples of claims or situations in which this type of insurance may be helpful in alleviating the potential risks that contractor's face on a daily basis. New's Day blog is a great resource for brokers to do just that. |
|
Risk Tip - Contractors Pollution Liability/ Contractors Professional Liability and Wrap-Up/Owner Controlled Insurance Program
To ensure proper coverage is provided to your insureds under a Contractors Pollution Liability (CPL) or Contractors Professional Liability (CPrL) policy, be sure wrap-up/owner controlled insurance program (OCIP)/contractor controlled insured program (CCIP) revenue is included in your revenue figures or rating/exposure base. Unlike a commercial general liability program, where wrap-up/OCIP revenue are omitted, typical CPL and CPrL programs are crafted to provide excess over project CPL/CPrL programs where the insured is a named insured on that project policy. Furthermore, you should ensure that there is no separately insured project exclusion on the policy. Some of these exclusions apply regardless of whether or not valid and collectible insurance is available under the project CPL or CPrL policy.
|
|
New Day Hosts 2nd Annual Carrier Appreciation Night
A little rain and nasty weather didn't put a damper on New Day Underwriting Managers' 2nd annual Carrier Appreciation Night at the Trenton Thunder. It was a fun-filled evening of networking and socializing with old friends and new. The New Day team was joined by our colleagues from Arch Insurance Group, Aspen Specialty, Beazley, Berkley Specialty Underwriting Managers, Catlin, Chartis Insurance, Chubb Custom Market, Colony Specialty, Freberg Environmental, Great American Environmental, Ironshore Environmental, Liberty International Underwriters, Markel, Philadelphia Insurance Companies, XL Insurance and Zurich.
As part of the 2012 New Day Gives Back Program, donations were collected that evening for the Insurance Industry Charitable Foundation (IICF). The night was a huge success and we send thanks and appreciation to all of those who came out and made a contribution.
Please view a slideshow of the evening below.
|
