PRIMEX is governed by a Board of Directors, elected by the shareholders. The Board of Directors has established a Finance Committee, an Underwriting Committee, and a Claims Committee, each of which has certain responsibilities, as well as Board advisory roles.

 

PRIMEX offers insurance only to its shareholders. However, being a shareholder is not necessarily a guarantee of insurance coverage. Please consult PRIMEX to obtain the offering memorandum for details concerning share purchase, cost, restrictions, and other matters.

 

PRIMEX, a non-admitted insurer in the U.S., conducts activities within its operational jurisdiction in Barbados, WI. The facility does not operate through a fronting insurance company or any similar arrangement.

 

The PRIMEX, Ltd. Insurance Program for Excess Liability Insurance includes:

 

LIMITS OF LIABILITY

Excess Liability $25 million each loss with separate annual aggregates applying to:

• Automobile Liability
• General Liability
• Employer’s Liability
• Products/Completed Operations

 

BASIS OF COVERAGE
Claims made during the policy period that are caused by loss after the retroactive date with certain extended reporting provisions as defined in the policy.

 

TYPE OF COVERAGE

• Excess Liability coverage, including Property Damage
• Personal Injuries and Advertising Injury

 

UNIQUE COVERAGE PROVISIONS

• Named  Perils and time Element Pollution
• Four separate aggregates
• Defense cost included
• Limited Automatic Acquisition coverage

 

SIGNIFICANT EXCLUSIONS AND RESTRICTIONS

• Expected or intended injury
• Certain specified products (e.g. DES, IUD, Asbestos, Tobacco etc.)
• Military use of products
• Certain pollution

 

UNDERLYING LIMIT REQUIREMENTS

• Automobile Liability:  $2 million each loss
• All Other Areas:  $1million each loss

 

The underlying amounts may be insured or self-insured and are subject to approval by PRIMEX along with claims handling and other procedures.  Defense and Indemnity expenses may be used to satisfy underlying amounts.

 

PREMIUM PAYMENT AND DETERMINATION
Premiums are determined by the Gross Revenue/Gross Payroll amount for the policy year.

 

 

 

This website is not an offer to sell, nor does it solicit an offer to buy, Primex, Ltd. shares. Such an offer is made only by the offering memorandum and is not made in any jurisdiction where such an offer or sale would be unlawful.