Philadelphia Insurance Cos. has enhanced its fine arts coverage for museums and other cultural institutions. CFC Underwriting is offering a new kidnap & ransom product. Elephant Auto Insurance is partnering with Dairyland Cycle to provide motorcycle and ATV insurance.
Philadelphia Insurance Cos. has created new insurance coverage for museums and cultural institutions through a partnership with its sister company, Tokio Marine America.
Highlights of the new fine arts collection form include worldwide coverage, wall-to-wall coverage (including coverage while in transit and on loan), shared deductible, title defense coverage, restoration, retouching, conservation coverage, a $100 million by location coverage limit and fine arts-specific claims adjusters.
The coverage is currently available in all states except California, Colorado, Connecticut, Illinois, Kentucky, Massachusetts, Montana, Nebraska, New Hampshire, New Mexico, Oklahoma, Oregon, Texas, Vermont and Washington.
CFC Underwriting, a Lloyd’s MGA, has launched a new kidnap & ransom product.
The new K&R policy provides comprehensive legal and expense coverage and extended personal accident benefits, with additional endorsements available. The policy includes reimbursement of ransom paid and additional expenses incurred as a result of the extortion.
The coverage comes with access to CFC’s 24/7 global incident response hotline, ensuring fast and reliable support from consultants that can quickly respond to kidnap incidents and extortion demands. Policyholders will have the choice of expert risk management companies including S-RM and red24, which will also provide access to training and support to help prevent a kidnap or ransom incident.
Elephant Auto Insurance, a direct-to-consumer insurer, has partnered with specialty insurer Dairyland to offer coverage for motorcycles, ATVs and similar vehicles.
Elephant customers will be able to bundle their auto and motorcycle policies, as well as other products, and to purchase motorcycle and ATV/UTV coverage directly from Elephant’s licensed agents.
Elephant is a wholly owned subsidiary of Admiral Group.
Source: Philadelphia Insurance Cos., CFC Underwriting, Elephant Auto Insurance