Back To Terms Beginning With b
In Products Liability and Umbrella coverages, a batch clause limits the amount of coverage to the per-occurrence limits for all defective products that come from a single run or batch. Professional Liability policies often are subject to a batch clause as it relates to the deductible or retention, i.e, only one deductible is applied to all suits that result from the same wrongful act.
Insurance Industry News from ProgramBusiness.comARM Grand Opening
Welcome to our new storefront owner: Automotive Risk Management & Insurance Services, Inc.
Automotive Risk Management & Insurance Services, Inc. (ARM) was formed by Marvin McDougal in 1992 as an outgrowth of prior operations primarily the Frank B. Hall Dealer Division and its successor Allied Dealer Insurance Services. Don Marlette joined the ARM organization in 1996 as Chairman and CEO and directed a significant expansion of the operations.
All ARM program carriers are rated A- or better by AM Best's including the Argonaut Group for the Franchised Dealer Package; Ace, Interstate Indemnity and AIG for the Umbrella program; Underwriters at Lloyds for the Dealers Open Lot Program and Colony for the RV, Used Car and Truck Dealers, and Service and Repair facilities.
ARM also has markets available for specialty placements such as Contingent Lease Liability, Auto Rental Operations, Large Deductible Worker's Comp Programs, High Risk Physical Damage; Hail, Earthquake, Flood, and High Valued Non Dealer Related properties.
Franchised Auto, Truck and Heavy Truck Dealership Program
ARM's program is designed for the well managed above average Franchised New Car, Truck Dealer, Heavy Truck, Truck Trailer Dealer and RV Dealer. Requirements of the program include:
Dealership must be engaged in the sale of new and used automobiles, trucks, truck tractors, long haul trailers, motor homes and/or travel trailers.
At least one major new car, truck, trailer or RV franchise held by the dealership.
Dealership Principal must be active in the business.
Personal use of Demos and Company Autos limited to Owners and Managers or no more than 20% of employees.
3 years of loss information plus the current year.
Favorable loss history or demonstrated willingness to make changes and accept higher deductibles.
Garage Business Program The program is designed for the following types of Garage Business:
Dealers involved in the selling and servicing of new and used autos, trucks and truck tractors, RV's and travel trailers.
Service operations engaged in repairing, towing, servicing, salvaging and valet parking of autos
Dealers Open Lot
For more information on all these programs, visit their storefront at www.programbusiness.com.Click for the whole story...