XL Catlin recently revealed enhancements to an online underwriting platform that is giving its Design Professional brokers capabilities for quick, single-point access to rate, bind and issue professional liability insurance coverage for architects, engineers, and other design professionals.
The technology is compatible on tablet and mobile formats to further assist in efficiencies for brokers. The system also integrates a digitalized application that allows a client to complete an online form, which uploads directly into the XL Catlin underwriting system.
According to Douglas Strong, Chief Underwriting Officer of XL Catlin’s Design Professional business, “The design industry is dynamic and fast-paced. That’s why we’re speeding up the underwriting and delivery of professional liability insurance protection to keep pace with their quick-changing business demands and insurance needs.”
Employment for architecture and engineering occupations is projected to grow 7 percent from 2016 to 2026, according to January 2018 US Bureau of Labor Statistics data.
“The design professional industry is growing because the need for their professional services is growing,” said Nicole Mangino, Director of Underwriting Field Operations for XL Catlin’s Design Professional team. “From the engineering services required for infrastructure projects to the design of new smart homes, our clients’ professional services are in high-demand and they need the right insurance products and limits to meet the heightened demand for their services profitably. This requires very responsive, fast insurance solutions.”
“Using our digital application process and our network of dedicated brokers, design professional firms can get quick turnaround on their quotes for Errors & Omission insurance and bind their protection almost instantly,” explained Ms. Mangino. “Plus, there’s access to specialized insurance coverage and endorsements to protect themselves from some very high profile business exposures like cyber risk and employment practices liability.”
XL Catlin’s Design Professional business provides professional liability insurance for architects, engineers and design consultants. Coverage is available for firms of all sizes and disciplines. XL Catlin’s design professional coverage is accompanied by a variety of loss prevention assistance and risk management assistance including continuing education courses and access to XL Catlin’s Contract eGuide.
About XL Catlin’s Insurance Operations
XL Catlin insurance companies offer property, casualty, professional, financial lines and specialty insurance products globally. Businesses that are moving the world forward choose XL Catlin as their partner. To learn more, visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group Ltd (NYSE:XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com.