The Swett & Crawford Underwriting Practice Group, headquartered in Atlanta, Ga., and CNA have collaborated in the development of a new nationwide program for equipment breakdown coverage open to more than 450 eligible classes.
Written on a comprehensive form, the new program covers boilers, pressure vessels, mechanical and electrical machines including air conditioning and refrigeration equipment, electrical apparatus and electronic computer or electronic data processing equipment at up to 50 locations per account. Total insured value of the equipment at each location cannot exceed $10 million in the standard coverage program, however, higher limits and coverage changes are available on a referral basis.
Minimum premium per location ranges from $300 to $950. Classes falling outside of the 450 defined classes can also be underwritten within the scope of this new equipment breakdown program.
The program includes a broad range of sub-limits for water damage, ammonia contamination and hazardous substances, expediting expenses, consequential loss, data and media, spoilage, utility interruption and other exposures. Business income loss including extra expense and ordinary payroll coverages are included with property damage. State and city jurisdictional inspections will be provided by CNA as it relates to boiler and pressure vessels.
Source: Swett & Crawford
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