Beazley expands marine underwriting business
Beazley has announced a major expansion of its marine underwriting business which should benefit freight forwarders, port operators, ship managers, naval architects and marine surveyors, among others.
The Lloyd’s insurer is enhancing its professional liability and logistics coverage and has formed a new team, headed by Zareena Hussain, to lead its drive into this section of the market.
Ms Hussain joins Beazley from a Lloyd’s managing agency underwriting on behalf of Mitsui Sumitomo Insurance and will be accompanied by Vincent Egon, underwriter, and Sharon Duffy, assistant underwriter, who are moving from the same managing agency.
Beazley’s head of marine, Clive Washbourn, coments: “We already offer a range of liability covers but the new team will allow us to extend our range of services to target markets, such as marine surveyors and ship managers, that are not traditional buyers from the Lloyd’s market.”
He adds: “We believe the security and service that the Lloyd’s market can offer will prove highly attractive to these buyers.”
According to the firm, its marine hull, cargo and war risks business currently insures 13.5% of the world’s ocean-going tonnage.
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