Increase in demand from construction and contractors post-pandemic has led to CNA Hardy increasing attachment points on their online portal
LONDON, August 9, 2022: CNA Hardy has 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.
Lauren Bates, CNA Hardy Excess Liability Portfolio Lead, said: “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.
“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.
Lauren Bates added: “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.
“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. 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.”
In addition to its online excess of liability product platform, CNA Hardy is also BIBA’s Excess Liability Scheme provider about which more information and how to gain access can be found here. CNA Hardy’s online excess liability product is accessed via CNA Online.
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About CNA Hardy
CNA Hardy, acting through Hardy (Underwriting Agencies) Limited and CNA Insurance Company Limited, independent wholly-owned UK subsidiaries, is a leading specialist commercial insurance provider for clients within both the Lloyd’s and company markets. For more information, please visit www.cnahardy.com.
CNA is one of the largest US commercial property and casualty insurance companies. CNA provides a broad range of standard and specialized property and casualty insurance products and services for businesses and professionals in the U.S., Canada and Europe, backed by more than 120 years of experience and approximately $45 billion of assets. For more information, please visit www.cna.com.
Issued on behalf of CNA Hardy by Rein4ce
For more information, contact Stephen Breen on:
[email protected] +44 7843076556