The policy has been filed in all states after first being tested in New Jersey. Financial bond market expands The combined facilities for financial bonds for CNA and Continental Insurance Cos. has expanded into 43 states and has filed for authority in the remaining states. The CNA program is written on paper of American Casualty and Continental Casualty insurance companies. The new broad bond form allows, after cancellation, the purchase of a 12-month extension of the discovery period. It also eliminates the requirement to report losses falling below the deductible amount.
Coverage includes pollution incidents resulting in personal injury or property damage.
A separate policy combining professional liability and contractors' pollution liability is available. The program selects such risks as labs conducting soil, air and water sampling or testing, nondestructive testing and testing of construction materials. The policy is written on Continental Casualty paper on an admitted basis in all states and the District of Columbia.