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Loss and Loss Adjustment Expense Reserves
Amount of an insurer's liabilities for claims that have not yet been settled. If this reserve amount grows sharply in comparison to the insurer's surplus, the risk increases for potential reserves deficiency, meaning the insurer could ultimately be unable to pay future claims.
Insurance Industry News from ProgramBusiness.com
Owners, Landlords, TenantsStorefront Owner Target Insurance Services http://www.programbusiness.com/tracking/sftracker.asp?SFid=174 announces a program for Owners, Landlords and Tenants: ONTARGETSM Property + General Liability Insurance for Owners, Landlords and Tenants (OL&T)
*Not Available in MA, ME, MS, NH, NJ, NM, NY or RI
As an administrator of E&S General Liability programs, we know how important the combination of broad coverage, superior customer service, and a thorough understanding of your clients' business needs can be. That's why we've created ONTARGET Property + General Liability Insurance - to serve the needs of specific niche markets.
ONTARGET General Liability Insurance for Owners, Landlords and Tenants is geared towards the following general classes of business:
Overview
Apartments, condominiums, townhouses or dwellings less than four stories high Hotels/Motels less than four stories high Shopping centers Retail establishments Lessors risk exposures Day Care Centers Consultants Health Care Facilities Health Exercise Clubs Coverage Features & Highlights
Minimum premium $7,500.00 Minimum liability deductible $500.00 per claim Minimum property deductible $1,000.00 Submission Requirements
Completed ACORD application Completed Target Capital or carrier supplemental application Loss history for past five years Current financial statement Inspection report within 45 days of binding Submissions may be faxed to (860) 284.9697
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