Hartford Steam Boiler will back the new coverages and perform equipment inspections required by most states. The new coverages will be quoted in the program agent's office and issued within the package policy. Reliance established its moving and storage program six years ago to provide coverage for companies with a national van line affiliation. The Insurance Services Office is seeking regulatory approval for two homeowners endorsements which provide for limits lower than required under current ISO programs. The functional replacement cost option allows the insured to repair or replace damaged antique, ornate or custom construction with more common and less costly construction materials and methods that are functionally equivalent to the original.
Policyholders can designate a coverage limit they believe is adequate.
Bar and tavern program offered in 17 states Specialty Insurance, a Brielle, New Jersey-based program manager, introduced a bar and tavern insurance program through Royal Insurance. Specialty has offered a restaurant program through Royal for 12 years. According to Specialty, the program will include all coverages except workers compensation and owned auto. Excluded risks include night clubs, go-go bars, discos, heavy sports bars with bouncers, or those with DJs or a young crowd. Coverages include actual loss of business income sustained, including off premises power and the Restaurant Plus D endorsement for qualifying accounts.