XL Catlin has revealed enhancements to its online underwriting platform for quick delivery of Professional Liability insurance for 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.
XL Catlin's design professional business chief underwriting officer Douglas Strong said: "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% from 2016 to 2026, according to January 2018 US Bureau of Labor Statistics data.
XL Catlin's design professional team underwriting field operations director Nicole Mangino said: "The design professional industry is growing because the need for their professional services is growing.
"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."
Mangino said: "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.
"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.
Source: Company Press Release