Marine is the oldest form of insurance in the world—but that doesn’t mean it’s immune to change. Here are three emerging risks you need to know about to better serve your commercial marine clients in 2017.
To serve the ever-growing marine market, Venture Insurance Programs has expanded the availability of its commercial marine insurance business—Tidal Marine—to all states in North America.
Several factors contribute to the complexity of managing cargo risks: a surge in cargo theft, accumulation of exposures and more global compliance requirements. In response, XL Catlin has unveiled a refreshed cargo insurance policy to help businesses mana
David Morrow grew up working on boats, but he knew it wasn’t something he could physically do for the rest of his life. Luckily, marine insurance provided the perfect career alternative.
To say commercial marine insurance is currently a buyer’s market would be an understatement. Heading into 2017, this line of business faces a case of oversupply for relatively low demand.
Due to crew coverage requirements, cruising itinerary, charter needs and more, larger yachts face exposures which owners of smaller vessels may not. Ironshore responds with a comprehensive insurance solution.
GEICO Marine launched a 365-day charter policy for people who want to use their boats for something other than personal recreation—filling a gap for boat owners who charter their boats more frequently than most policies allow.
In the past, a boater with a disabled vessel had to personally radio a tow operator and pay out of pocket, then file for reimbursement at a later date. Not anymore.
Novamar’s staff members are boaters who recognized the need for a yacht insurance program that simplifies the underwriting process, improves claims service, reduces response times and provides flexible, stable coverage at a competitive price.
Fidelis Group Holdings, through its subsidiary Continental Underwriters, has launched a new program for vessels laid up as a result of last year’s downturn in the oil and gas industry.