Marine

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.

As the general economy continues to improve, insureds are making more purchases in discretionary areas, including boats. But selling marine isn’t like selling auto. Where do you begin?