Allianz Cornhill Commercial has launched Excess of Loss, its first new product for 2007, aimed at businesses that require a ‘top-up' of their public liability cover.
Excess of Loss sits in excess of the existing primary insurance limit and mirrors the cover provided by the primary policy.
Steve Coates, underwriting facility & development manager, Allianz Cornhill Commercial, said: “We are committed to continually reviewing and updating our product range to ensure that we help our brokers meet the needs of their customers.
"Court awards for injuries and also costs in re-nstating damaged property are continuing to grow, therefore, more and more businesses feel that it's prudent to buy even higher public liability limits.”
Gavin Dollings, casualty manager, added: “This product is already provided by Allianz Group companies around the world and we have secured assistance from them in building our product and strategy.
"We anticipate a great demand for this policy and we will become a long-term player in this market.”
