CNA Hardy, the specialist commercial insurer that writes business within the Lloyd’s and company markets, announced increased flexibility in the attachment points available from its online excess-of-loss platform.
By increasing the maximum attachment point capability from £25 million to £150 million, brokers can get quotes and bind new and renewal business instantly and at highly competitive rates for clients with contractual demands requiring higher limits of indemnity.
“Our Excess Liability Scheme continues to grow and post-pandemic we are starting to see a change in risks being presented, particularly in relation to construction and contractors,” commented Lauren Bates, CNA Hardy excess liability portfolio lead.
“Projects that were halted due to the pandemic are now receiving the investment needed to commence and so there has been an increase in construction risks presented – both on an annual basis and for single contracts.”
CNA Online enables brokers to access CNA Hardy’s specialist excess of loss cover in the UK with capability for new business, renewal and mid-term adjustments. It also allows them to quote, bind cover and instant policy documents, in under two minutes or save, update, re-quote and bind at a later date, at brokers’ convenience, 24/7. It also gives direct access to CNA Hardy expert underwriters, should brokers need them.
“Excess liability is often seen as being needed in the event of an injury loss, however claims costs for third party property damage are on the rise as supply issues impacting the construction industry are pushing the cost of materials up,” Bates added.
“Limit of indemnity continues to be a key consideration for construction clients, particularly those using heat, at third party locations, and it is increasingly important to consider the value of property being worked upon,” she said.
“That’s why we’ve increased the flexibility of CNA Hardy Online to provide cover with attachments ranging from £1 million to £150 million, giving greater reassurance and peace of mind for our construction contractor clients.”
CNA Hardy’s online excess liability product is accessed via CNA Online.
About CNA Hardy
CNA Hardy, acting through Hardy (Underwriting Agencies) Ltd. and CNA Insurance Company Ltd., independent wholly owned UK subsidiaries, is a leading specialist commercial insurance provider for clients within both the Lloyd’s and company markets.
Source: CNA Hardy
Topics Profit Loss Liability Funding
Was this article valuable?
Here are more articles you may enjoy.
Woman Used Photos from Another Person in State Farm Claim, NCDOI Says 
Hacker Says AT&T Paid About $400,000 to Erase Sensitive Data 
Wall Street Pushes Back After Activists Escalate Protests 
Deere Retreats From Diversity Measures After Online Attacks 
