CNA, an insurance holding company, has expanded its current offerings to include equipment maintenance coverage for hospitals and allied healthcare facilities.
CNA said through a collaboration between CNA Warranty and Maintenance Value Plan (MVP), the program will provide an alternative solution for the maintenance of complex medical/healthcare equipment – laboratory, diagnostic, imaging, surgical, radiation oncology, office – commonly used within hospitals and allied healthcare facilities.
According to the CNA, the equipment maintenance program benefits include the coverage may provide approximately 15%-40% savings over an original equipment manufacturers (OEM) service contract.
The facility pays a pre-determined coverage cost and a separate self insured retention will be established. If the retention is exceeded, CNA will reimburse the facility for covered repair and service costs.
CNA said that there will be no restrictions on the customer’s choice for service providers, including OEM, third-party or in-house service personnel and the pre-approval is not required for repairs. The program will provide coverage for both preventative and corrective maintenance.
CNA senior vice president of Warranty and Alternative Risks Brian Loebach said that most customers are familiar with service contracts offered by original equipment manufacturers (OEM); however, the equipment maintenance coverage offers an alternative with the opportunity for savings through lower monthly costs, cash flow improvements and overall operational efficiencies.
"This mutually beneficial relationship allows CNA to offer a cost-effective alternative to customers and MVP to gain access to distribution and customer base," Loebach said.