News From Beacon Hill – March 2013

Dear Valued Agent,

The first quarter of 2013 is coming to a close and we want to take this opportunity to remind you that one of our top priorities is to work with only the leading environmental carriers in the marketplace. With AM Best Ratings of A13 or better, our companies not only represent solid financial stability, they also have the tools and creativity necessary to help you offer coverage to fit the specific needs of your account. Please make sure you fully consider the critical factors in choosing a carrier for your client – reputation, AM Best rating, outlook, claim handling, etc.

We are here to help you with your more challenging risks, as well as the straightforward ones. If you have any questions, send us an email.

Site Pollution for Nursing Homes

Nursing Homes face many potential environmental exposures due to the habitational nature of the premises and operations. These facilities are unique risks because of the health standards that must be met and maintained in a multi-unit living and working environment. From hazmat handling and air quality to food handling, nursing homes need to be covered for potential problems that may occur in patient rooms, cafeterias, bathrooms, and other common meeting spaces. Beacon Hill has addressed this important class of business and is here to help you access top Site Pollution Liability coverage for your nursing home clients.

What is Site Pollution for Healthcare Facilities?
Site Pollution for Healthcare Facilities is designed to cover claims arising from pollution conditions at, on, or emanating from a specific scheduled location, be it a hospital, rehabilitation center, nursing home, or other medical facility.

How does it work?

  • Coverage is designed to respond to issues faced by medical facilities with patient rooms, treatment rooms, community areas, food preparation areas, labs, etc.
  • The policy focuses on potential indoor air quality problems, including mold and legionella pneumophila.
  • Coverage can be modified to cover only new conditions occurring from policy inception onward, or unknown pre-existing conditions, or both.
  • The policy covers clean-up costs for bacteria or viruses required by the health department or Center for Disease Control.
  • Coverage includes waste disposal activities, as well as emergency response costs.
  • Coverage can be constructed to apply to only on site bodily injury, property damage, and clean up, or only off site, or both.
  • Coverage is very flexible.
  • Coverage is almost always Claims Made.

Read more about habitational risks.

For more information, call us at (800) 596-2156 or send us an email.

Mid-Term Limit Increases

By Becca Cole, Associate Account Executive

Occasionally insureds have a contract requiring higher limits than they currently carry. Sometimes, they are interested in raising their full policy limit to meet the requirement and provide higher limits for future jobs, but often it may be more practical to provide the higher limits required on a project specific basis. For example, if one particular job is requiring an $8M aggregate, an insured who feels comfortable carrying a $2M policy aggregate generally may not see the need to increase their full policy limit so much for an out-of-the-ordinary requirement. Read the complete article.

News Alert: Understanding Carrier Financial Stability

By Bill Pritchard, President & CEO

Agents put the majority of their effort into obtaining the best possible coverage for their clients in the most affordable manner. Being sure the policy will respond to the specific exposures their clients face is the foundation of the agent/insured relationship. Coverage complexity is cited as one of the principal reasons insureds partner with agents to purchase coverage. Read more.

Recent Success Stories

  • $600k Carpentry contractor
    Coverage purchased: Contractors Pollution Liability with Mold and Transportation Pollution Liability
    Policy limit: $1M/$1M
    Premium = $3,203
  • $6M Salt water hauler
    Coverage purchased: Contractors Pollution Liability and Auto
    Policy limit: $1M/$2M
    Premium = $91,000
    *Includes Liability and Physical Damage, composite rate on the Auto including 12 Extra Heavy Tractors and 5 light trucks.
  • Ten story office building and multi story parking garage
    Coverage purchased: Site Pollution Liability
    Policy limit: $3M/$3M
    Premium = $29,261
    *Structure built in 1982 with no phase environmental reports ever done on the property. Insured was looking for pre-existing coverage only in order to sell the property.
  • $60k HVAC contractor
    Coverage purchased: Contractors Pollution Liability with Mold and Transportation Pollution Liability (project)
    Policy limit: $2M/$2M
    Premium = $4,500
  • $2.6M Energy contractor
    Coverage purchased: Contractors Pollution Liability with Mold, Transportation Pollution Liability, and NODS (project)
    Policy limit: $5M/$5M
    Premium = $14,250
  • $10M Mechanical contractor
    Coverage purchased: Contractors Pollution Liability with Transportation Pollution Liability
    Policy limit: $1M/$1M
    Premium = $4,221
  • $450k New construction and renovation contractor
    Coverage purchased: Contractors Pollution Liability (project)
    Policy limit: $1M/$2M
    Premium = $2,500