New Day Standard - March 2015



Message from the President
 
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.
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.

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.  
 

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.


New Day Takes NYC 
New York City - 3-18-15

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.

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?"

New Day Successes 
Recent Placements

Contractor Type

Product Type

Premium

Construction

Non-Oil/Gas Drilling Contractor

Contractor's Professional and Pollution Liability

$25,000

Residential & Commercial Construction Manager At Risk

Contractor's Professional, Protective and Pollution Liability

$99,000

Apartment Development

Contractor's Pollution Liability - Project

$78,000

Concrete

Contractor's Professional and Pollution Liability

$51,000

Water/Wastewater

Contractor's Professional, Protective and Pollution Liability

$63,000

Schools/Colleges/Churches Construction Manager At Risk

Contractor's Professional, Protective and Pollution Liability

$58,000

Mechanical

Contractor's Professional and Pollution Liability

$30,000

Pipeline Construction Contractor/ Construction Manager At Risk

Contractor's Professional, Protective and Pollution Liability

$28,000

Heavy Highway

Contractor's Professional and Pollution Liability

$73,000

Mechanical, Electrical, Plumbing (MEP)

Contractor's Professional and Pollution Liability

$37,000

Industrial

Contractor's Professional, Protective and Pollution Liability

$41,000

Street/Road

Contractor's Professional and Pollution Liability

$32,000

Industrial

Contractor's Professional and Pollution Liability

$34,000

Right of Way Clearing Contractor

Contractor's Professional and Pollution Liability

$76,000

Scaffolding Contractor

Contractor's Professional and Pollution Liability

$50,000

Mechanical/Electrical/HVAC Engineer

Architects & Engineers Professional Liability

$91,000

Manufacturing/Distribution Center Construction

Project-Specific   Professional Liability

$550,000

Casino & Resort Construction

Owner's Protective Professional Indemnity

$110,000

Wastewater Treatment Plant Construction

Contractor's Professional and Pollution Liability

$29,000

Street & Road Construction

Contractor's Professional and Pollution Liability

$67,000

School/College Construction

Contractor's Professional and Pollution Liability

$69,000

Real Estate

Developer - Office Building

Pollution Legal Liability

$47,000

Real Estate Portfolio - Habitational

Pollution Legal Liability

$150,000

Petroleum Terminals

Pollution Legal Liability

$145,000

Drum Reconditioner

General Liability/Pollution Legal Liability & Excess

$85,000

Salt Water Disposal

General Liability/Pollution Legal Liability & Excess

$50,000

Industrial Manufacturing - Transaction

Pollution Legal Liability

$480,000


2465 Kuser Road
Suite 202
Hamilton, NJ 08690
609.298.3516
[email protected]
Give us a call today!