BIBA Excess Liability scheme provider CNA 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. CNA’s online excess liability product is accessed via CNA Online.
Lauren Bates, CNA 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’s specialist Excess of Loss cover in the UK with capability for:
- New business, renewal and mid-term adjustments
- Quote, bind cover and instant policy documents, in under 2 minutes
- Or save, update, re-quote and bind at a later date, at brokers’ convenience, 24/7
- Direct access to CNA expert underwriters, if brokers need them
Lauren Bates continued:
“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 Online to provide cover with attachments ranging from £1m to £150m, giving greater reassurance and peace of mind for our construction contractor clients.”
Find out more about the BIBA CNA Excess Liability scheme and how to access it here.