First Capital-AWIS and Hudson Insurance Group have jointly launched new insurance services professional liability primary and excess facility for brokers and policyholders.
Underwritten by Hudson and administered exclusively by First Capital, the new facility provides insurance services classes such as, retail and wholesale insurance agents and brokers, MGAs, MGUs, third party administrators, multiple employer trusts, captives and self-insured plans.
Additional classes include risk retention groups, risk purchasing groups, regional insurance companies, claims adjusters, reinsurance intermediaries, insurance actuaries and risk management and loss control consultants.
Standard and optional features of the coverage includes minimum premium of $7,500 and minimum retention of $5,000, first dollar defense, 50/50 hammer clause with options as low as 20/80 as well as duty to defend, claims-made and reported coverage.
In addition to providing 50% retention credit for mediation option, the facility options include independent contractors coverage, automatic subsidiary coverage, final adjudication wording for personal conduct exclusions, true worldwide coverage and others.