QBE enhances Product Liability offering with new E&O endorsement
New York, NY – QBE North America, an operating division of QBE Insurance Group Limited, today announced its Commercial Insurance business has introduced a Manufacturing E&O endorsement to its Product Liability product offering.
The Manufacturing E&O endorsement is a Claims Made coverage form providing broad coverage on a simple rating basis. This endorsement closes a gap in the Commercial General Liability product by providing coverage when a manufacturing product fails due to a flaw in the design or manufacturing process and causes financial harm, even when there is no bodily injury or property damage. Among its many benefits, it includes a 60-day extended reporting period that can be increased to five years.
"QBE is committed to building the strongest partnerships with customers, and this endorsement helps us deepen relationships and better serve manufacturers by filling a potential coverage gap in the Product Liability component of a Commercial General Liability policy," said Walter Grote, QBE Senior Vice President, Underwriting Leader - Commercial Insurance.
"This new endorsement demonstrates our expertise in helping manufacturers manage their complex risks; it's just one facet of the comprehensive solution we can offer," Mr. Grote added. "Competition in the manufacturing industry continues to intensify due to a variety of factors including globalization and technology. Having a robust risk management program in place can provide the competitive edge manufacturers need."
For more information about QBE's comprehensive set of risk management solutions for manufacturers and their agents and brokers, visit QBEsolutions.com/manufacturing.
QBE's Commercial Insurance business offers a suite of products for midsized business customers, including a variety of property, casualty, and workers' compensation products. These products can also be integrated with a broad range of QBE Specialty solutions, such as Accident & Health, Aviation, Cyber, Inland Marine, Management Liability & Professional Lines, and Trade Credit.
QBE North America is part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide. QBE NA reported Gross Written Premiums in 2015 of $4.6 billion. QBE Insurance Group's 2015 results can be found at www.qbe.com/us. Headquartered in Sydney, Australia, QBE operates out of 37 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business through its property and casualty insurance subsidiaries. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's. Additional information can be found at www.qbe.com/us, or follow QBE North America on Twitter.
Carla Ferrara, Vice President, Corporate Communications & Branding, 212.497.9604,Carla.firstname.lastname@example.org