Travelers has introduced IndustryEdge for Equipment Dealers that provides custom-designed coverage to help protect against the unique risks and exposures in the equipment distribution industry.
Available through Travelers’ network of independent insurance agents and brokers, IndustryEdge for Equipment Dealers offers broad coverage for those engaged in the sale, lease, rent, service or repair of the following types of equipment or machinery:
- Construction equipment including excavation and grading, mining and quarrying, and concrete processing.
- Industrial machinery and equipment including cement making, food processing and other machinery, as well as heat exchange, material handling and packing equipment.
- Farm equipment dealers including cultivating, milking, irrigation and poultry equipment.
Specifically, this IndustryEdge product offers tailored coverages unique to equipment dealers, including:
- General Liability – An equipment dealers coverage endorsement with errors & omissions (E&O) coverage for title and insurance sales; statutory E&O coverage for leasing, lending, hourmeter and odometer, and prior damage disclosure.
- Management Liability – Coverage for directors & officers/partnership liability, employment practices, fiduciary liability and kidnap & ransom.
- Property/Inland Marine – Coverage for equipment leased or rented to others, false pretense, reduction of manufacturers floor plan deductible, legal liability for the loss of use for property and newly acquired premises, to name a few.
Source:
Topics Manufacturing
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