From the Front Lines: Marine

How did you get started at your agency?

I started as a marine underwriter for AIG New Hampshire right out of college in 1983. I worked for them for two years, then moved to Annapolis, Maryland to work for another agency for nine. I decided at the end of that time it was a good point for me to start out on my own in marine insurance, and only marine. At the other agency I tried to do everything, but marine was what I knew. So I got started in ’94 here in Annapolis, and I’ve been working here ever since.

Why marine?

I grew up working on boats but knew it wasn’t something I could physically do for the rest of my life. It’s laborious work with a lot of tough chemicals. In ’83, there was a pretty bad recession and I was offered a job as a marine underwriter. I thought, ‘That’s pretty good—at least I’ll have a job.’ I never thought I’d stick with it. Then I moved to the agency side, which I really like.

Biggest marine changes?

The consolidation of carriers. ACE purchased Chubb and will pursue business under that name. AIG was a big marine company, and now it’s not.

I certainly haven’t lived through any type of hard market. It’s been soft forever, literally since ’94 and before.

Biggest marine challenges?

The fewer competitors out there, the harder it is to compete. Every once in a while you’ll have some sort of new company come in and try to give it a shot, but they really don’t know what they’re doing or don’t have the best program. You don’t want to be one of those people who has a carrier that’s here today, gone tomorrow.

Marine advice for a fellow agent?

You have to like what you do. Like your customers and be able to work well with carriers to provide the best product and the best service at the best price. I think that’s true in any industry. With our markets changing, you need to get behind loyal, strong carriers.

What do you say to a first-time marine client?

Ask about their business. Are they a boat dealer or a boat broker? Do they do boat repair or service? Get a good grasp of what they do so you can provide the right product that covers all their operations. For instance, they may tell you do they do boat repair but also have a small boat rental operation. You need to make sure you have all aspects of their business firmly in mind when you recommend products.

Favorite success story?

I had a number of guys who got into the boat-building business, and I was able to help them from the day they started their first boat. They began under construction and they built a number of very high-end custom yachts, then retired at the top of their game. It was always very gratifying to see these boats on the covers of magazines and know we provided the best insurance product available for them.