The environmental investor advocacy group Ceres is releasing a report today that says the insured portion of annual losses from natural catastrophes has declined in the last 30 years, even as those losses have increased.
The types of insurance a company needs depend on the kind of business it does and the regulations that apply to it. Trade Only follows developments in government and insurance that affect the marine industry.
Progressive Insurance is adding a new lineup of boat insurance coverage options in Florida.
Legislation “is about protecting jobs while keeping workers covered.”
In the first phase of a new website rollout, Safe Harbor Pollution Insurance introduced the My Harbor broker portal, a platform that allows real-time policy and claim access.
Gowrie Group, a New England independent personal lines and marine insurance agency, continued an annual tradition of bringing a fresh approach to the Newport (R.I.) International Boat Show. The Gowrie team delivered 60 custom bucket-bags filled with apples to marine industry clients and friends that were exhibiting boats and products at the show. In total,…more
Willis Group Holdings, a London-based global risk adviser, insurance and reinsurance broker, launched a new liability insurance policy to cover the costs associated with repatriating stranded seafarers. According to the International Labor Organization’s database, there are 184 reported incidents of abandoned vessels and seafarers around the world. As a result of the economic downturn’s effect…more
Total Dollar Yacht Insurance expanded its product line under the Full Throttle Insurance Program to include multi-engine center consoles. The product is available in all states and will be able to accommodate engine configurations as large as five outboards. The coverage will be written with both State National Insurance Co. and National Specialty Insurance Co.,…more
The Scottish cruise ship company Jacobite Cruises, based in Inverness, is in line for a six-figure payout if the Loch Ness Monster damages one of its boats. “I don’t know what the odds of this actually happening might be, but this is Loch Ness,” Jacobite’s owner, Freda Newton, told The Daily Mail. “How silly would…more
Falvey Insurance Group formed a new Safe Harbor Pollution Insurance division. Offering insurance in the commercial market, Safe Harbor’s global vessel pollution policy provides comprehensive protection for any vessel, owner or operator, Falvey said. Veteran insurance professionals Russ Brown, Tony Gerone and Sean Quinn bring more than 35 years of experience in underwriting marine pollution…more
Total Dollar Yacht Insurance of Port Washington, N.Y., acquired World Marine Underwriters of Fort Lauderdale. World Marine Underwriters is a marine insurance specialty agency that was founded by Harry Wardlow in 1960. Its main location is in Fort Lauderdale with a satellite office in Stuart, Fla. Total Dollar Yacht Insurance is a division of Total…more