Our MISAF provides significant upgrades, while maintaining the broad coverage language and definitions you’ve come to expect from Admiral. Combined with our first class and creative underwriters, we’re able to offer you a form that can adapt to the ever changing MPL landscape.
MPL Form Updates
Insuring Agreement B. MEDIA LIABILITY
The lines between MPL, Media, and Technology get fuzzier every day. The addition of this insuring clause to the MPL form allows the underwriter and broker to determine the proper form without sacrificing coverage. It’s especially meaningful coverage since the Intellectual Property Exclusion provides a carve back resulting from a Media Incident.
Contingent Bodily Injury / Property Damage included
Definition of Bodily Injury and Property Damage now includes a carve back for claims arising from Professional Services. This was perhaps the most common endorsement request from our broker partners, so it’s wonderful to be able to now say, “yeah…it’s built in!”
Supplemental Payments – Fee Dispute Mitigation 50% of withheld fees up to $50K
Let’s face it – Suing for fees almost always results in a countersuit alleging negligence. But we understand the Insured cannot afford to forfeit their outstanding fees, even if the claim will erode their deductible and pierce their limits. Once in dispute, this Supplemental Payment may help alleviate the Insured’s financial loss without costly litigation.
Knowledge of Senior Executive Officer, Severability of Application, Built in Waiver of Subrogation
Revised Knowledge and Severability conditions can now be realistically managed by our Insured’s. Waiver of Subrogation was probably our second most requested endorsement and since most claims allegations trigger the Professional Services, this common sense approach will make it easier for underwriters and brokers to accommodate our Insured’s contractual obligations.
Defense and Settlement (THE HAMMER CLAUSE)
Our previous policy provided 50/50. Now that’s what I call an upgrade!!
Aerospace & Telecommunications
- Aerospace Technology & Telecommunications Services including 3rd party product design
- Limits: 1M / 3M
The insured had limited options due to the aerospace exposure. We suggested a conference call to fully understand the firm’s operations and make sure that we could properly cover them.
The call was rewarded with a bind order the following week!
- E-Sports consultant helping universities to setup programs in this growing market that will hit 1 billion this year
- Limits: 1M / 1M
Admiral quickly turned around this consultant for a partner broker and as a result we are working several more E-Sport related risks in this burgeoning industry.
DoD R&D Services
- Applicant works in conjuncture with a major Research University
- Scientific Research, Validation, and Forensic Services
We were asked to consider adding GL to this account.
After bringing in an additional underwriter, we combined our expertise and can now offer a combined PL & GL form.
Marketing / Sweepstakes Administration Risks
- Created a custom endorsement to affirm Over-Redemption Coverage
- Defines Over-Redemption
- Full policy limits available
Admiral has bound over $100K in new business accounts since drafting our Over-Redemption Endorsement
Third Party Employment Benefit Administrator
- Blended HR Admin, Actuarial, TPA, Consulting Services on one policy form
- $50M Revenues
Admiral Underwriter Set Up Conference Call
- Call with Applicant resulted in a better understanding of the Applicant’s expanded services, as well as the exposure of 20+ scheduled entities
We then created Manuscript Endorsement language to specifically address concerns revealed on the conference call
Admiral bound 5M / 5M for $158K & Won From a 10 Year Incumbent
Pharmaceutical / Regulatory Compliance
- Regulatory, R&D, Q&A Consultant for large Pharma MFG
- $41M in Revenues
Urgent request from broker because their Insured could not win their contract without showing proof of coverage
We had a 2 hour turnaround from initial phone call to quote $5M including full Cont. BI/PD And… the Insured got their contract!