The North American marine insurance business of Axa XL, a division of Axa SA, has introduced a new contractor's equipment product, the company said on Monday.
The policy covers 33 covers including the following new certificates for which specified limits are per occurrence:
Drones for $ 1500; additional cost – $ 10,000 for contractor equipment and $ 5,000 for property supporting your business; improvements, enhancements, attachments, and upgrades for $ 25,000; necessary repairs for $ 1000; newly acquired home – $ 10,000 for property supporting your business; property underwater for $ 10,000; replacement keys and locks for $ 1000; the rig's legal liability for $ 25,000 and the warranty period of $ 2,500.
The product automatically includes properties that support $ 25,000 companies: computer equipment, media, data, valuable paper, tenant improvements and improvements, office furniture and supplies, and other business personal property, Alexander McGinley, head of insurance business, product and strategy, said in their statement.
"Recognition of specialized exposures developed AXA XL's several reports that include, but are not limited to, inflation protection, equipment rentals and sales, and equipment sharing," Mike Perrotti, North America's inland coach for North America, said in the statement. "We believe the equipment's division covers the contractor's equipment is a subordinate need in the market."
Coverage is not available in all jurisdictions as of April 201