Property & Casualty Insurance – Excess Liability

Please note that the insurance products underwritten by Alterra Bermuda Limited are only available through a Bermuda broker. Click here for a list of Bermuda brokers.

Philosophy and Operations

Alterra Bermuda Limited and Alterra Europe plc combine strong underwriting experience with disciplined risk modeling to deliver long-term product solutions to our clients.

Target classes

• Healthcare (Hospitals and Long-term Care Facilities)
• Pharmaceutical
• Medical Products
• Life Sciences
• Transportation
• Heavy Industrial
• Construction

Maximum capacity of $25 million or Euro 25 million

Minimum attachment of $10 million*

Minimum excess premiums - $5,000 per million with a $100,000 per policy minimum premium.

*We will consider an attachment point below $10 million on a risk accepted basis. Capacity is available on an annual or multi-year basis (up to 36-month policy period), on guaranteed cost and loss sensitive rated bases.

Policy Forms

• Coverage is considered on the following policy types:
• Lead or Follow Form - Occurrences Reported;
• Primary or Follow Form - Claims Made;
• Follow Form - Occurrence basis for select classes

Terrorism

Underwriting position will be dependent upon the exposure presented by the insured.

Minimum Submission Requirements

In order to properly evaluate historical account loss experience and exposures, submission should include:

• Summary of operations by segment or by State for Hospital and Long-Term Care accounts.
• Ten-years of historical exposures, revenues, units, beds, etc.
• Details on loss reserving strategy and claims handling process
• Updates on venues and any changes in tort reform, etc.
• Ten-years (minimum) of currently valued historical loss experience, including aggregate and large loss details.

First-Party Product Recall Insurance

Target classes: Food and Beverage Companies

Coverages provided: Accidental Contamination and Malicious Tampering

Maximum capacity of $25 million or Euro 25 million

Minimum attachment of $10 million

Minimum premium of $20,000 per million

Capacity is available on an annual or multi-year basis for Product Recall Coverage

Please note that the insurance products underwritten by Alterra Bermuda Limited are only available through a Bermuda broker. Click here for a list of Bermuda brokers.

Philosophy and Operations

Alterra Bermuda Limted and Alterra Europe plc combine strong underwriting experience with disciplined risk modeling to deliver long-term product solutions to our clients.

Target classes

• Healthcare (Hospitals and Long-term Care Facilities)
• Pharmaceutical
• Medical Products
• Life Sciences
• Transportation
• Heavy Industrial
• Construction

Maximum capacity of $25 million or Euro 25 million

Minimum attachment of $10 million*

Minimum excess premiums - $5,000 per million with a $100,000 per policy minimum premium.

*We will consider an attachment point below $10 million on a risk accepted basis. Capacity is available on an annual or multi-year basis (up to 36-month policy period), on guaranteed cost and loss sensitive rated bases.

Policy Forms

• Coverage is considered on the following policy types:
• Lead or Follow Form - Occurrences Reported;
• Primary or Follow Form - Claims Made;
• Follow Form - Occurrence basis for select classes

Terrorism

Underwriting position will be dependent upon the exposure presented by the insured.

Minimum Submission Requirements

In order to properly evaluate historical account loss experience and exposures, submission should include:

• Summary of operations by segment or by State for Hospital and Long-Term Care accounts.
• Ten-years of historical exposures, revenues, units, beds, etc.
• Details on loss reserving strategy and claims handling process
• Updates on venues and any changes in tort reform, etc.
• Ten-years (minimum) of currently valued historical loss experience, including aggregate and large loss details.

First-Party Product Recall Insurance

Target classes: Food and Beverage Companies

Coverages provided: Accidental Contamination and Malicious Tampering

Maximum capacity of $25 million or Euro 25 million

Minimum attachment of $10 million

Minimum premium of $20,000 per million

Capacity is available on an annual or multi-year basis for Product Recall Coverage

Operating out of strategically located east and west coast offices, Alterra USA combines the core Alterra strengths of strong underwriting experience and disciplined risk modeling to deliver long-term Excess Liability product solutions to its clients.

Alterra USA defines itself through its willingness and ability to craft intelligent structures for clients with challenging insurance needs. The strategy is to focus on areas where capacity is scarce and Alterra has the opportunity to offer pricing and structures that solve a client need, while providing Alterra with its necessary return. Such solutions are available on annual or multi-year bases. Alterra USA specializes in mid-to-large accounts based in North America.

While Alterra USA focuses on the casualty portion for these risks, Alterra Specialty can consider the property and marine pieces of these accounts.

Target Classes

Alterra USA targets the following classes of business:

• Healthcare (Hospitals and Long-term Care Facilities)
• Pharmaceutical
• Medical Products
• Life Sciences
• Transportation
• Heavy Industrial
• Construction
• Tough Products

Capacity and Attachment Strategy

• Maximum capacity of $15m
• Minimum attachment of $100,000 (may consider lower attachment on case by case basis)
• Minimum excess premiums $250,000 annual policy minimum premium except for Long Term Care will consider lower premiums
• Capacity will be available on an annual or multi-year basis (up to 36-month policy period), on guaranteed cost and loss sensitive rated bases.

Policy Forms

Coverage is considered on the following policy types:

• Occurrences Reported
• Primary or Follow Form – Claims Made
• Follow Form – Occurrence basis for select classes

Minimum Submission Requirements

In order to properly evaluate historical account loss experience and exposures, submission to Alterra USA should include:

• Summary of operations by segment or by State for Hospital and Long-Term Care accounts
• Ten-years of historical exposures, revenues, units, beds, etc.
• Details on loss reserving strategy and claims handling process
• Updates on venues and any changes in tort reform, etc.
• Ten years (minimum) of currently-valued, historical loss experience, including aggregate and large loss details

Alterra USA works with approved producers throughout the United States.