| AMWINS.COM GETS A NEW LOOK IN 2011 | |
What does the new amwins.com mean for you? Improved navigation and product information means you'll be able to find what and who you're looking for... fast!
We're excited about the changes, and you'll be the first to know when the site goes live in February. Stay tuned! |
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We've partnered with the
St. Baldrick's Foundation
to conquer kid's cancer!
Would you like to see one of
these AmWINS employee lose their hair for a good cause?
You can help make it happen!
That's right, the person with the most donations for St. Baldrick's will SHAVE THEIR HEAD on January 19, 2011! | |
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If you have a question about this newsletter, please contact:
Melanie Riordan
704-749-2888
melanie.riordan@amwins.com
Sarah Ruble 704-749-2855 |
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In this month's Client Update, we provide you with two client advisories: - Our client advisory on FDA Preemption's role in insurance explores the role preemption plays in underwriting coverage for drug and medical device firms.
- The FTC's Red Flag Rule requires certain businesses to implement identity theft prevention procedures. That requirement could impact some of your clients.
Our goal each month is to provide you with quality material that will not only inform you about important changes in the marketplace, but to provide you with information you can use to educate your clients. Also remember that previous Client Updates are archived here on our website for you to reference later on if necessary. Thank you for continuing to be a valued AmWINS client.
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NEW CLIENT ADVISORY: FDA Preemption's Impact on Life Sciences Risk Management and the Insurance Community
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 Federal preemption is the notion that, if the FDA approves a drug or medical device, injured patients should not be able to sue manufacturers by alleging defective warnings. In recent years, it has served as one of the ways drug and medical device firms have protected themselves from the financial cost of product liability. Preemption's viability has often been an assumption in underwriting coverage for FDA-approved drugs and devices. As preemption comes under attack, what are the implications? Read more...To learn how AmWINS can help with your accounts that may be impacted by changes in FDA preemption, contact Sarah Ruble, 704.749.2855, sarah.ruble@amwins.com.
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NEW CLIENT ADVISORY: The FTC's Red Flag Rule Could Have a Significant Impact on Your Clients
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 Effective January 1, 2011, certain businesses in the United States are required to implement a written Identity Theft Prevention Program to detect warning signs (so called Red Flags) and to implement processes to quickly mitigate the impact of Identity Theft and to stop further instances. Read more...To learn how AmWINS can help with your accounts that may be impacted by the Red Flag Rule, contact Tom Lott, 704.749.2848, tom.lott@amwins.com.
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PRODUCT SPOTLIGHT: Deductible Buy Downs
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Position yourself more competitively by offering deductible buy downs (a.k.a. "buybacks") to your clients. We have a Deductible Buy Down facility willing to consider Wind and Earthquake buybacks for most classes of business and locations. The program is open to all clients serviced by AmWINS brokers. Read more...For information about how AmWINS' Deductible Buy Down program can help you and your client, contact Lisa Petrovich, 704.749.2719, lisa.petrovich@amwins.com. |
| PRODUCT SPOTLIGHT: AmWINS TankAdvantage Storage Tank Program |
As a result of recent enhancements to our storage tank program, we would like to take the opportunity to let you know more about the program. Through TankAdvantage, we have been the leading writer of storage tank pollution insurance nationally for over a decade, and are endorsed by five separate petroleum associations. Read more...For information about how AmWINS' TankAdvantage program can help you and your client, contact Jim Titus at AmWINS Program Underwriters, 717-214-7604, jim.titus@amwins.com. |
LEGISLATION UPDATE: New Food Safety Law Could Increase Product Recalls
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President Obama recently signed the FDA Food Safety Modernization Act into law. It has some important implications for food-related businesses, including: - Food facilities must have a written preventive controls plan that spells out the possible problems that could affect the safety of their products.
- FDA must establish science-based standards for the safe production and harvesting of fruits and vegetables.
- FDA is directed to increase the frequency of inspections.
And one of the most important changes: - FDA is authorized to mandate a recall of unsafe food if the food company fails to do it voluntarily. The law also provides a more flexible standard for administrative detention (the procedure FDA uses to keep suspect food from being moved); allows FDA to suspend the registration of a food facility associated with unsafe food, thereby preventing it from distributing food; and directs the agency to improve its ability to track both domestic and imported foods.
We highlighted the FSMA changes in the January issue of our RecallReport. See the January RecallReport here and click here to sign up for the monthly RecallReport newsletter. To find out how AmWINS can help you with your clients' product recall insurance needs, contact Sarah Ruble, 704.749.2855, sarah.ruble@amwins.com. |
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| PROGRAM UPDATE: Changes to our Exclusive Wine Growers/Distributors Program |
 Last year we announced a new program for wine growers and distributors. Since then, there have been some changes to the program that we would like to share with you.
Changes include:
- Full Limits on EQ, EQSL, Flood coverage
- Limits of $50 Million and higher
- Third Party E&O
- Broad Contamination and Wine Leakage, and coverage for grapes in transit from vineyard to winery
- Profit Commission Clause of 12.5%
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