New Product Announcements: June 21, 2011

COVERAGES

THE HANOVER INSURANCE GROUP INC. released Hanover Architects & Engineers Advantage, a broad set of professional liability coverages for architects and engineers. It is offered on an admitted basis and targets a variety of disciplines for design professionals in full-time private practice with annual gross billings up to $10 million.

Bridging Liability (12/01/11)
Face Facts (11/01/12)
Liability (04/13/12)
A Dispute Settled (03/01/12)
How a Nonmedia Company Can Pretend to be a Media Company (06/01/11)

The construction business in North America for ZURICH introduced an insurance product to protect operational civil works exposures from direct physical loss and damage as well as loss of revenue for both public and private projects. The Zurich Operational Civil Works Policy offers capacity with limits up to $150 million, flexible deductibles with an option for an aggregate, and coverage for improvements and betterments to real and personal property, among other features.

THE CHUBB GROUP OF INSURANCE COS. added these four countries to WORLDcert: Italy, Poland, South Africa and Turkey. WORLDcert is a proprietary online system that instantly generates certificates of insurance to enable drug and medical device developers and clinical research organizations to obtain certificates of insurance to facilitate the start of clinical trials.

TRAVELERS today unveiled CyberRisk, a new product from Travelers Bond & Financial Products dedicated to limiting client cyberexposures and managing associated risks. Insureds can build a custom CyberRisk policy that fits their business needs based on 10 coverage options, including regulatory defense expenses, crisis management expenses, computer fraud and e-commerce extortion.

STARR AVIATION AGENCY INC., a member of Starr Cos., launched a personal nonowned offering for both renter pilots and flight instructors. Coverage is available for single engine and multiengine piston aircraft, in addition to piston rotorcraft. The limits of liability extend up to $1,000,000/$200,000 per passenger and $200,000 nonowned physical damage liability.

SOLUTIONS

ENSERVIO released EnservioCommercial, a contents claims solution developed for commercial property claims that provides a full range of inventory, valuation and replacement solutions, particularly for healthcare, manufacturing and retail.

ORACLE INSURANCE unveiled the latest version of its system for billing, payment and collections management. Called Oracle Revenue Management and Billing for Insurance, it features functionality that helps insurers consolidate billing infrastructure, expand insight into the billing process, and improve customer service and sales channel support.

RESOURCES

The U.S. ENVIRONMENTAL PROTECTION AGENCY (EPA) released two databases--the Toxicity Forecaster database (ToxCastDB) and the database of chemical exposure studies (ExpoCastDB)--that scientists and the public can use to access chemical toxicity and exposure data.

THE PROFESSIONAL LIABILITY UNDERWRITING SOCIETY (PLUS) announced its Future PLUS initiative, an attempt to attract, educate and retain the next generation of professional liability insurance specialists. A key component of the Future PLUS initiative is the establishment of a new membership level for professionals who are 35 years old or younger, the Future PLUS membership level.

June 21, 2011

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