Tokio Marine Highland today announced the launch of a new Contractors Equipment product designed to provide the trusted and comprehensive coverage contractors need to protect their valuable equipment. The new and modern policy form offers broad protection and the convenience of scheduled or blanket reporting coverage.
Tokio Marine Highland is a wholly owned company of Tokio Marine Kiln, is a leading managing general agent that offers a broad suite of insurance products and specialty risk management solutions tailored to the needs of today’s construction industry. Since launching a Builders Risk program in 2015, Highland has enhanced its offerings and grown the company’s annual written premium to more than $100 million.
“We’re excited to expand our capabilities with our new Contractors Equipment product,” said Rick Girden, President of Tokio Marine Highland’s Construction Division. “Our simplified policy form is clear and easy to understand, and backed by the same underwriting expertise and unrivaled customer service that our broker partners have come to know and expect.”
Highland’s Contractors Equipment coverage features include:
- Up to $10 million loss limits
- $5,000 minimum premium
- No co-insurance penalties
- Automatic replacement cost coverage on equipment five years or newer
- Blanket loss payee language built into form for fast certificate issuance
Target classes for the coverage include:
- General Contractors
- Street and Road, Including Batch Plants
- Oil and Gas Servicing
- Bridge Builders
- Open Pit and Above Ground Mining
- Water and Sewer Cut and Cover
- Land Development
About Tokio Marine Highland
Tokio Marine Highland is a leading property and casualty underwriting agency that offers distinct specialty risk management solutions, including private flood, construction, fine art, specialty property, real estate investment and lender-placed insurance. Tokio Marine Highland also includes Precise Adjustments, a wholly owned subsidiary that provides industry-leading claims capabilities.
Founded in 1962, Tokio Marine Highland Insurance Services, Inc. (formerly WNC Insurance Services, Inc.) is a wholly owned company of Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market, rated A+ by Standard & Poor’s for financial strength, and a member of the Tokio Marine Group. Tokio Marine Highland’s home office is located in Chicago, IL, with operating centers in Dallas, TX, Irvine, CA, Miami, FL, Naperville, IL, and South Pasadena, CA.
For more information, visit our website at www.tokiomarinehighland.com.
Vice President, Marketing and Communications