The Navigators Group (NAVG) is pleased to announce that that its principal underwriting agency subsidiary, Navigators Management Company, Inc., has released a new Short Form Excess Casualty Policy focused on providing capacity to low-to-moderate hazard industries.

This new policy is designed to reduce coverage gaps within an excess casualty tower, minimize the broker’s E&O exposure, and streamline excess placements with our team.

Navigators’ President and Chief Executive Officer, Stan Galanski, commented, "This innovative new policy is part of our Company’s ongoing efforts to simplify and streamline the commercial insurance buying process for our customers. We aim to provide exceptional service by taking unnecessary complexity out of our business, which is what is reflected in this product."

"The continuous emergence of new policy forms with vastly different terms and conditions has created significant pitfalls in the placement of excess casualty towers for many insureds and their brokers," explained Peter Burns, President of Navigators’ Commercial Excess Casualty Division.

Key policy features include:

Insuring agreement that provides the flexibility to follow coverages beyond the standard GL, AL and EL.

No defined coverage trigger so the policy adopts the triggers of controlling underlying insurance.

No catchall restriction of following all exclusions with any "intervening" layers.

We schedule the controlling underlying insurance and adhere to those terms without any "no broader than" wording to restrict coverage.

Automatically allows for "shaving of limits" by the insured.

With very few terms included in the policy, this product provides coverage consistency to diminish the potential coverage gaps and E&O.

There are an abundance of excess policies in the market all with their own terms, conditions, definitions and exclusions which can create costly gaps in coverage. Our short form has very few terms and no definitions so that these gaps are greatly reduced.