NEW YORK, Dec. 18, 2017 /PRNewswire/ -- XL Catlin's
North America marine insurance
business unveiled an insurance solution specifically designed for
marine contractors in the US.
"As our ports and waterways look to expand to accommodate
growing traffic and shipping demands, marine contractors are in
high demand," according to Anne Marie
Elder, XL Catlin's Chief Underwriting Officer for Marine in
the Americas. "Marine contractors' operations encounter some
very unique and challenging risks. This includes new
construction and ongoing maintenance using special vessels and
equipment."
"Given the hazardous nature of marine contracting work, it's
essential to have comprehensive insurance protection that directly
addresses their diverse, day-to-day exposures. We've designed
our marine contractors' insurance solution with their unique
operating environment in mind."
XL Catlin's marine contractor insurance includes a comprehensive
collection of insurance coverage protection for:
- Hull and Protection & Indemnity
- Marine General Liability including Contractor's Legal
Liability
- Primary and Excess Liability including
Bumbershoot/Umbrella
- Owners and Contractors Protective (OCP)
- Builder's Risk and Installations
- Contractor's Equipment
- Domestic and International Transportation (Inland Marine and
Ocean Marine Cargo)
- Property
- Commercial Automobile
XL Catlin also offers a number of coverage features and limits
that can be tailored to meet a marine contracting operation's
specific needs including:
- Per project aggregate limits
- Contractual legal liability including action over
- Automatic additional insureds
- Coverage for waterborne equipment
- Contractor's Equipment Coverage Solutions - automatic
sublimits
-
- Borrowed, leased or rented equipment, contract penalty,
employee tools and work clothing
- Rental expense, unscheduled equipment, property that supports
your business and virus or harmful code
- Builder's Risk and Installations Coverage Solutions
-
- Automatic sublimits for fire department service charge,
increase in construction costs, landscaping and signs, ordinance or
law, and property in the open (rain, snow, ice or sleet)
- Coverage within the limit of insurance includes sewer and drain
backup, sinkhole collapse, specified types of testing, and site
preparation
Download XL Catlin's Marine Contractor Coverage Product here
XL Catlin's Global Marine business provides insurance for
clients with special coverage needs for their marine exposures,
including Inland Marine, Ocean Cargo, Blue and Brown Water Hull,
P&I, as well as Excess and Primary Marine
Liabilities. XL Catlin provides marine insurance to
cover vessels, ports and ship repair yards throughout the world.
Risks are written on both a primary and an excess of loss
basis.
About XL Catlin's Insurance Operations
XL Catlin insurance companies offer property, casualty,
professional, financial lines and specialty insurance products
globally. Businesses that are moving the world forward choose XL
Catlin as their partner. To learn more,
visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group
Ltd's (NYSE:XL) insurance and reinsurance companies which
provide property, casualty, professional and specialty products to
industrial, commercial and professional firms, insurance companies
and other enterprises throughout the world. Clients look to
XL Catlin for answers to their most complex risks and to help move
their world forward. To learn more, visit xlcatlin.com.
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SOURCE XL Catlin