New Product Announcements: May 17, 2011

COVERAGES

TRAVELERS made available its Excess Educators Legal Liability (ELL) product through its enhanced IndustryEdge offering for educational institutions. Travelers integrated its umbrella coverage for both casualty and ELL offerings under a single tower of capacity for private colleges and private K-12 schools, which are written through Travelers' Commercial Accounts business unit, and is now able to provide a combined limit up to $25 million over the primary ELL and casualty coverages.

The Right Kind of Help (06/01/12)
Exit Strategies (03/01/13)
Fixing the Pharmacy Conundrum (05/01/13)
The Mind-Body Connection (09/01/11)
The Strength of Advocacy (05/01/13)

FIVE STAR HEALTHCARE, a division of Crump Insurance Services Inc., added a new insurance facility for kidney dialysis centers. The program is offered through an A.M. Best A XI rated carrier and is tailored to meet the unique insurance needs of dialysis providers. Operations of any size are eligible and coverage includes professional and general liability as well as HIPAA coverage, hired and nonowned auto, and abuse and molestation liability.

IRONSHORE INC. increased capacity for the financial lines division of Iron-Starr Excess Agency Ltd. to $25 million. The limit increase is written on a gross limit basis and is in response to insurance market demand for access to capacity from multiple insurers through the issuance of a single policy form.

U.S. PREVENTIVE MEDICINE launched a new version of its The Prevention Plan health management program. Offered through Sam's Club, the plan has been customized to include an online health risk appraisal, a comprehensive blood test, personal health coaching, ongoing support and a variety of tools to help keep members motivated to maintain a healthy lifestyle.

AON RISK SOLUTIONS announced the Aon Zero Collateral Deductible Program, an alternative to traditional collateral programs for its U.S. clients. Aon is partnering with QBE. In lieu of traditional collateral requirements, organizations will be charged a one-time, up-front fee based upon their credit worthiness to assume the credit risk for the life of the program.

SOLUTIONS

INSTEC, a software and services provider, released a new version of its Quicksolver 3 policy administration software. The new version features an administrator module, user interface enhancements and automated endorsement wording.

CSC launched a cloud-based business process service to help clients manage workers' compensation processing for all 50 states. Called Workers' Compensation as a Service, the product works on the POINT IN, Agency Link, Document Management and Media Management platforms.

PITNEY BOWES BUSINESS INSIGHT announced the Uplift modeling technique, a predictive customer communications management tool designed to help increases campaign ROI. Uplift predicts how much a marketing interaction will increase, or decrease, a customer's likelihood to purchase a service.

EQECAT INC. announced additional updates to its WORLDCATenterprise, including updates to the Asia Typhoon Model and improved event loss table outputs. As a whole, the new Version 3.16 will feature updates to the North Atlantic Hurricane Model and the Canada Earthquake Model. For installations using SQL Server, this release will also include the ability to dynamically connect and disconnect portfolio databases.

RESOURCES

International insurance economics think tank THE GENEVA ASSOCIATION published its new tract, "The Fundamentals of Future Insurance Regulation and Supervision: A Global Perspective." Written by supervisors, academics, researchers and insurance industry experts, the book offers a diversified perspective on how the regulatory and supervisory framework for the insurance sector will develop in the future.

The PROFESSIONAL LIABILITY UNDERWRITING SOCIETY (PLUS) added a digital distribution option for its professional liability curriculum modules. All 23 modules of the comprehensive PLUS Curriculum may now be purchased online and downloaded immediately, allowing students to begin utilizing the material right away and avoid paying additional shipping charges.

STRATEGY MEETS ACTION (SMA), an insurance strategic advisory firm, unveiled the SMA Insurer Forum. Opened exclusively for insurer membership in February 2011, the Forum already includes more than 90 business and technology leaders who share a common interest in leveraging technology for business value and competitive differentiation. The SMA Insurer Forum puts members in the midst of discussions and leading research occurring at the intersection of business and technology.

THE INSTITUTES developed a series of apps based on its popular SMART Practice Exams called the SMART QuizMe apps that allow users to take their CPCU studies wherever they go. The apps are now offered for iPhone, iTouch and iPad. Android and BlackBerry versions are slated for third quarter 2011 release.

May 17, 2011

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