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.
Allianz Group’s specialist corporate insurer, Allianz Global Corporate & Specialty, said Rich Soja will become North American regional head of marine and Henning Haagen will take over as North American regional head of specialty lines.
Norman-Spencer Agency said it opened a new recreational marine operation in High Point, N.C.
The group said it has been operating as an independent insurance broker for more than 25 years.
Sea-Fire Marine president Ernie Ellis addressed 650 people at the 27th Marine Insurance Seminar.
Gowrie Group said it acquired International Marine Insurance Services.
A group of 14 Lloyd’s insurers paid $20 million to the owner of Barbie, a 170-foot superyacht that was destroyed by fire in Turkey in January.
The Connecticut-based Gowrie Group is launching its annual matching challenge with a $25,000 donation.
The MBIA said members participating in an insurance program with The Hanover were awarded more than $200,000 in annual safety dividends.