CNA Announces Enhancement to Its Coverage for Precasters

CNA recently announced an enhancement to its current coverages for precasters – 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.

The Concrete Product Rework endorsement represents CNA’s latest step toward augmenting its entire suite of business insurance programs for precasters. CNA has provided insurance for precast concrete manufacturers for decades, and recently earned the endorsement of the National Precast Concrete Association (NPCA), an international trade association that represents manufacturers and suppliers in the plant-produced precast concrete industry. Using feedback from its distribution partners and NPCA, CNA developed and offers a coverage endorsement not readily available in the marketplace.

For more information on CNA’s Concrete Product Rework coverage or its NPCA-endorsed precast concrete manufacturing program, contact Janis Allen, program director, CNA, at 804-934-2691; or Brenda Ibitz, vice president of Development and Member Services, NPCA, at 800-366-7731.

Serving businesses and professionals since 1897, CNA is the country’s seventh largest commercial insurance writer and the 13^th 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. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products may not be available in all states. CNA is registered trademark of CNA Financial Corporation. For more information, please visit CNA at www.cna.com.