CNA Warranty and Maintenance Value Plan to Provide Alternative Equipment Maintenance Coverage for Hospitals, Allied Healthcare Facilities

CHICAGO--(BUSINESS WIRE)-- CNA recently announced an expansion of its current offerings to include equipment maintenance coverage. Through a collaboration between CNA Warranty and Maintenance Value Plan (MVP), this 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.

“Most customers are familiar with service contracts offered by original equipment manufacturers (OEM); however, our equipment maintenance coverage offers an alternative with the opportunity for savings through lower monthly costs, cash flow improvements and overall operational efficiencies,” said Brian Loebach, senior vice president of Warranty and Alternative Risks, CNA.

When compared to a traditional OEM, CNA’s equipment maintenance program offers additional advantages, including:

• May provide approximately 15%-40% savings over an OEM service contract.
• The facility pays a pre-determined coverage cost and a separate self insured retention is established. If the retention is exceeded, CNA will reimburse the facility for covered repair and service costs.
• MVP has a network of qualified vendors that provide service/parts at reduced rates compared to those charged by OEM.
• There are no restrictions on the customer’s choice for service providers, including OEM, third-party or in-house service personnel.
• Pre-approval is not required for repairs.
• The program provides coverage for both preventative and corrective maintenance.

Loebach continued: “This mutually beneficial relationship allows CNA to offer a cost-effective alternative to our customers and MVP to gain access to our distribution and customer base.”

MVP is a division of Global Risk Services, Inc., with a sole focus on providing equipment maintenance coverage to a wide array of industries such as Healthcare, Banking, County and Municipal Government, Hospitality and Plant-Facilities Management. MVP was started in 2004 and currently insures over 200 healthcare accounts.

For more information on the CNA/MVP equipment maintenance coverage, please contact Chris Ward, CNA Warranty, at 312-822-4314 or christopher.ward@cna.com; or George Mann, MVP, 630-836-9000 or gfmann3@globalriskservices.com.

Serving businesses and professionals since 1897, CNA is the country’s seventh largest commercial insurance writer and the 13^th largest property and casualty company. CNA’s insurance products include commercial lines, specialty lines, surety, marine, and other property and casualty coverages. CNA’s services include risk management, information services, underwriting, risk control and claims administration. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states. For more information, please visit CNA at www.cna.com. CNA is a registered trademark of CNA Financial Corporation.

CNA
Media Contact:Katrina Parker, 312-822-5167

Source: CNA