Message from the President
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New Day Celebrates
10 Years Providing Optimal Solutions
The New Day team is proud to announce that February marked 10 years since Jeff Lejfer, Jeff Slivka and Tim Farrell sat in a corner booth at a diner outside of Philadelphia over nachos and wings and developed the concept of what would become New Day Underwriting Managers LLC. Throughout 2015 we will celebrate this great milestone along with our carrier and broker partners...many of whom have been with us since the beginning. We invite you to take a few minutes to read this article recently published in Rough Notes magazine and highlights our 10 years in business. Our entire team extends its thanks to you, our partners, for making our success possible.
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Product Highlight
Pollution Legal Liability (PLL)
Pollution Legal Liability (PLL) policies were once purchased exclusively by federally regulated facilities as a financial assurance alternative to comply with federal statutes. The versatility of PLL policies has evolved over the years, and today its applicability is far more widespread. PLL coverage fills the "environmental gap" left in most general liability policies for property owners and facility or site operators. A broad range of industries including manufacturing, warehousing, commercial/habitational real estate, hospitality, healthcare, education, energy/oil & gas and agriculture are purchasing PLL to insure against environmental loss. PLL can be structured to meet regulatory obligations, contract requirements, lender requirements, risk management objectives, and more. PLL can be tailored and enhanced to meet the specific needs of each risk. Read more here.
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New Day Welcomes... Jon Polevoy, Eileen Escudero Wisor, & Dionna Spina
Please join us in welcoming three new employees to the New Day team. Jon Polevoy, Esq. and Eileen Escudero, Esq. have both joined New Day as Consultants in the Construction Group. Dionna Spina has joined as an Account Manager in the Construction Group. Please click their names below to learn more.
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2015 Market Update
Annual Recap of Environmental & Construction-Related Professional Liability Insurance Industry
The specialty lines insurance landscape is a constantly changing environment and the areas of construction-related professional liability and environmental insurance are no different. Each year it seems as if new carriers enter the market, new coverages are introduced and new risk emerge. Navigating these markets is more difficult than ever, even for the most experienced insurance professional. That's why New Day Underwriting Managers continuously monitors and sifts through the changes so that we can effectively and efficiently find optimal solutions to solve our client's risk management challenges. Read our 2015 Market Update, which is a product of New Day's collective knowledge and expertise and provides an overview, key trends and a look at the year ahead for each of our products.
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New Day Takes NYC
Celebrating 10 Years in Style
In celebration of New Day's 10 years in business, the team spent the day in New York City on March 18th. Everyone enjoyed some time to tour the city followed by the Broadway show Wicked and dinner at a Brazilian steakhouse. Thank you to all of our partners for allowing us to enjoy the day. Please enjoy this slide show of our trip.
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Risk Tip
Non-Owned Disposal Site Coverage
Under a typical environmental policy (primarily Contractors Pollution Liability and Pollution Legal Liability) many environmental carriers include Non-Owned Disposal Site or NODS coverage. Although it can be called many different things depending on the carrier, the primary focus is to insure against liability associated with waste disposal. It is important to remember that while most policies cover this risk, the coverage itself can vary tremendously starting with the insuring agreement, which can be offered on an occurrence or claims made basis. Then, the coverage may be offered for waste created at a job site only or may include waste coming from the insured's owned or leased locations such as maintenance facilities. Furthermore, it may require the sites be listed for coverage to apply or it may be provided on a blanket basis provided it meets the definition of NODS in the policy. Lastly, and most obvious, it may come with sub-limits or full limits depending on the carrier and cost of the program. So next time you hear, "yeah, I have NODS coverage in the program," the follow up question should be, "ok, so what kind of NODS coverage do you have?"
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New Day Successes Recent Placements
Contractor Type
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Product Type
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Premium
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Construction
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Non-Oil/Gas Drilling Contractor
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Contractor's Professional and Pollution Liability
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$25,000
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Residential & Commercial Construction Manager At Risk
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Contractor's Professional, Protective and Pollution Liability
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$99,000
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Apartment Development
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Contractor's Pollution Liability - Project
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$78,000
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Concrete
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Contractor's Professional and Pollution Liability
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$51,000
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Water/Wastewater
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Contractor's Professional, Protective and Pollution Liability
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$63,000
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Schools/Colleges/Churches Construction Manager At Risk
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Contractor's Professional, Protective and Pollution Liability
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$58,000
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Mechanical
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Contractor's Professional and Pollution Liability
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$30,000
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Pipeline Construction Contractor/ Construction Manager At Risk
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Contractor's Professional, Protective and Pollution Liability
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$28,000
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Heavy Highway
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Contractor's Professional and Pollution Liability
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$73,000
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Mechanical, Electrical, Plumbing (MEP)
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Contractor's Professional and Pollution Liability
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$37,000
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Industrial
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Contractor's Professional, Protective and Pollution Liability
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$41,000
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Street/Road
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Contractor's Professional and Pollution Liability
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$32,000
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Industrial
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Contractor's Professional and Pollution Liability
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$34,000
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Right of Way Clearing Contractor
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Contractor's Professional and Pollution Liability
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$76,000
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Scaffolding Contractor
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Contractor's Professional and Pollution Liability
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$50,000
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Mechanical/Electrical/HVAC Engineer
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Architects & Engineers Professional Liability
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$91,000
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Manufacturing/Distribution Center Construction
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Project-Specific Professional Liability
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$550,000
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Casino & Resort Construction
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Owner's Protective Professional Indemnity
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$110,000
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Wastewater Treatment Plant Construction
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Contractor's Professional and Pollution Liability
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$29,000
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Street & Road Construction
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Contractor's Professional and Pollution Liability
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$67,000
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School/College Construction
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Contractor's Professional and Pollution Liability
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$69,000
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Real Estate
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Developer - Office Building
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Pollution Legal Liability
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$47,000
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Real Estate Portfolio - Habitational
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Pollution Legal Liability
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$150,000
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Petroleum Terminals
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Pollution Legal Liability
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$145,000
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Drum Reconditioner
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General Liability/Pollution Legal Liability & Excess
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$85,000
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Salt Water Disposal
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General Liability/Pollution Legal Liability & Excess
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$50,000
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Industrial Manufacturing - Transaction
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Pollution Legal Liability
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$480,000
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