Commercial has increased its capacity for excess of loss cover, allowing brokers to purchase excess liability cover up to £50m per individual class of business. The company’s previous capacity was £25m.
The move is in line with Allianz
’s aim to grow its portfolio across casualty lines. It also demonstrates the company’s widened underwriting appetite, making insurance available to a wider range of clients, especially SMEs.
The features of the excess of loss offering include:
- Increased capacity from £25m to £50m
- Excess Employers’ Liability, Public and Products Liability, standalone Public Liability and JCT 6.5.1.
- Policies can be customized for one-off requests, short-term contracts, or written as a yearly policy
In November, Allianz
equipped all of its branch property and casualty underwriters to trade excess of loss policies at a local level. It also made changes to the underwriting process, making it easier for brokers to do business.
According to Stuart Toal, casualty account manager for Allianz
Commercial, said, “With claims costs increasing year on year, it is more important than ever to ensure clients are fully protected if the worst were to happen.
“We believe there is a demand for higher levels of liability insurance and by taking the decision to double our excess underwriting capacity, we believe that we can significantly expand our footprint in this key area.”