AXA XL Insurance and NIP Group, an insurance program administrator, have partnered to launch a new monoline Commercial Excess Liability Coverage program, which the group will now provide brokers and insureds additional coverage through.
The primary focus of the program will be on landscapers, arborists, greenhouse growers, paving and excavation contractors, land clearing, and grading contractors.
AXA XL will back this coverage with limits up to $5 million, follow form excess on both admitted and non-admitted basis.
Minimum premium starts at $750 for the first $1 million, with coverage available in most states in the U.S., including California, Texas, North Carolina, Pennsylvania, New Jersey, and New York, although not in the five boroughs.
Thomas Doherty, SVP, Specialty Programs at NIP Group, commented: “The addition of a monoline excess solution highlights our commitment to providing brokers with the most extensive and tailored coverages in the market to ensure that their accounts are properly covered.
“This coverage will allow a variety of contractors and green industry businesses to gain access to monoline excess liability to allow them to continue to focus on building a risk-adverse business.”