CNA has enhanced its current coverages for precasters with the Concrete Product Rework endorsement, which will reimburse precasters for expenses arising out of the removal, repair or replacement of defective precast concrete products.
In addition, the Concrete Product Rework endorsement will respond in cases where the insured’s concrete product is deemed defective and in need of repairs in order to meet quality standards. While the insured’s cost for labor and materials to correct defective concrete products is a covered expense, the insured’s profit from the rework is not. Coverage eligibility is based on the requirements for the carrier’s precast concrete manufacturing program, as well as an insured’s experience in this industry, financial condition and quality control program.
CNA has provided insurance for precast concrete manufacturers for decades, and recently earned the endorsement of the National Precast Concrete Association.
Source: CNA
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