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Package Lines Announcement

CopperPoint Package Lines Announcement

Effective November 1, 2020, CopperPoint’s package lines (auto, property, inland marine, crime, cyber, EPLI, EBLI, umbrella, general liability) will begin migrating to Alaska National paper as part of our integration efforts. This is another positive step to enhance our product offerings and provide you and our policyholders with the best products and services available.

What does this conversion mean to you and your policyholders?

New Business Effective 11/1/2020 – You will see new forms, quotes and policies all written on Alaska National paper. Please continue to submit all applications to clsubmissions@copperpoint.com

Renewals Effective 1/1/2021 – Your renewals will begin migrating to Alaska National paper. In accordance with state law, you and your policyholders will receive notices of non-renewal on the CopperPoint package policies and we will offer renewal quotes on Alaska National paper.

In most cases, the Alaska National policy will provide coverage that matches or exceeds what was on the CopperPoint policy. In the rare instances where a reduction in coverage exists and we are unable to match coverage through an ISO or proprietary form, we will provide a liberalization form for one year; providing the broader of the two policy coverages.

  • Billing – Policyholders will receive a separate bill for any policies written on Alaska National paper. They will receive a separate bill for their workers' compensation policy written on CopperPoint paper.
  • Claims – Once policies are converted to Alaska National paper, claims will be handled by our in-house Alaska National employees.
  • Loss Control – Loss Control services will continue to be performed by local CopperPoint employees.
  • Underwriting – You will continue to work with your assigned local CopperPoint package underwriter on all package business.

Our insureds will now have the benefit of many Alaska National coverage form enhancements. Attached are a few changes, but please reference the policy form for details.

Property
  • Additional Deductible Options
  • Multiple Business Income/ALS Options
  • Identity Recovery
  • Food Contamination Enhancement (for restaurants - no charge)
  • Blanket Limit of $250,000/$500,000 aggregate for accounts receivable, valuable papers, relocation expense, fine arts, etc.
  • Equipment Breakdown offered through Hartford Steam Boiler with various deductible options
Crime

  • Burglary, theft and fidelity coverages as a stand-alone or added to the package

  • Minimum premium of $100

General Liability

Contractors' Enhancement

  • Limited Pollution Liability Coverage for Contractors Available
  • Residential Exclusion – tract housing definition is now eight units within a subdivision

Non-Contractors Enhancement

  • Damage to Rented Premises Increased Limit to $500,000
  • Primary/Non-contributory wording
  • Blanket Waiver of Subrogation Included

Employment Practices Liability
  • Automatic limits up to $100,000 with the ability to increase to $1M with approval
Cyber
  • Separate limits for Computer Attack and network Security Liability along with different deductibles and sub-limits
  • 1-year, 3-year, 5-year, 6-year, and unlimited extended reporting periods available
Inland Marine
  • Expanded IM offerings available stand-alone or with a package. Offerings include:
    • Contractor Equipment (both stand-alone and as a package enhancement)
    • Builders Risk
    • Installation
    • Electronic Data Processing
    • Bailee’s Customers Floater
    • Miscellaneous Property Floater
    • Fine Art Floater
Auto
  • Increased Limits
    • Towing - $500 for PPT, Light & Medium Autos
    • Transportation Expenses - $200/day with $1,500 max for PPT, Light & Medium Autos
    • Loss of Use – Hired, Rented, or
      Borrowed Autos - $200/day with $1,500 max
    • Airbags – Cost to repair, replace, or reset
    • Waiver of Glass Deductible, if repaired
    • Rental Reimbursement - $75/day for PPT, Light, & Medium Autos (included)
  • Composite Rating
  • CG 23 94 – Silica or Silica Dust Exclusion

Additional resources include:

Thank you for your continued partnership as we embark on this conversion initiative. Please share this communication with your staff as needed and contact your Business Development Representative or your Underwriter if you have any questions.

tom-collins-signature

Tom Collins CPCU, AU, AU-M, CRM, CIC
Senior Vice President
Chief Underwriting Officer
CopperPoint Insurance Companies