CHICAGO, July 21, 2016 /PRNewswire/ -- CNA today announced increased limits - up to $50 million - for Umbrella & Excess accounts.
"Building off the successful launch of CNA's new Umbrella & Excess policy forms, I am pleased to announce CNA now has the capacity to offer up to $50 million in limits for Umbrella & Excess policies," said Kevin Leidwinger, President and Chief Operating Officer, CNA Commercial.
This increased capacity will be available on a lead or excess basis, and allows CNA to respond to the needs of its agents and insureds by providing them the ability to build more efficient and streamlined excess towers.
"We are excited to bring this capability to the market," said Michael Kirchgessner, Vice President, Umbrella & Excess Underwriting, CNA. "Our customers asked for broader forms and additional capacity, and we are pleased to deliver both."
In May 2016, CNA announced two new, modernized Umbrella & Excess forms, which are available on a monoline basis and also as part of CNA Paramount®, the industry-leading Property and General Liability package policy. The new forms include:
- Commercial Umbrella & Excess form (A/B form) to facilitate contract certainty through streamlined follow form coverages that include regularly requested endorsements and assist in eliminating potential gaps created by variations in underlying terms and conditions.
- Follow Form Excess policy, which allows for enhanced follow form capabilities, helping facilitate the contract certainty and align coverages within the tower, including Shaving of Limits coverage.
For more information on CNA's new Commercial Umbrella & Excess forms or additional capacity please contact Michael Kirchgessner at 312-822-1179 or via email at Michael.Kirchgessner@cna.com.
Serving businesses and professionals since 1897, CNA is the country's eighth largest commercial insurance writer and the 14th largest property and casualty company. CNA's insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. "CNA" is a service mark registered by CNA Financial Corporation with the United States Patent and Trademark Office. Certain CNA Financial Corporation subsidiaries use the "CNA" service mark in connection with insurance underwriting and claims activities.
Brandon Davis, 312-822-5167 / 312-834-6091
Sarah Pang, 312-822-6394 / 312-607-5544
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