Combined product provides comprehensive cover for UK marine businesses
04 March 2021 – Arch Insurance’s UK Regional Division (Arch or the Company) has today announced the launch of a new regional marine trades combined insurance product for UK marine businesses.
The product is designed to provide organisations, operating in the marine sector, with a comprehensive range of covers within a single policy. Core coverage includes business interruption, employers’ liability, legal expenses, material damage, third-party liability and vessels. In addition, it also provides professional indemnity and management liability insurance.
The policy is available to a broad spectrum of UK-based marine operators, including boat dealers, boat builders and repairers, harbours and small ports, marine equipment manufacturers, marinas and sailing clubs. Under the policy, organisations can also access a wide range of risk management solutions.
This is the second marine product launch for the UK regional market in recent months, following the release of the hull and machinery product in November 2020. The Arch Insurance UK Regional Marine team is led by Paul Hanson and Stephen Loader, who have a combined marine sector experience of over 65 years. Commenting on the launch, Stuart Danskin, Director of Underwriting for Arch Insurance’s UK Regional Division, said: “We are focused on continuing to develop opportunities to provide a broader range of insurance solutions in the UK marine sector. Our aim is to become a ‘one-stop-shop’ for the UK marine insurance market, providing brokers and their customers with access to a comprehensive range of solutions delivered by market-leading underwriters and supported by specialist in-house claims management.”