H. Elder Brown, Jr., President and Chief Executive Officer of FGH commented, "We are consistently pursuing ways of providing insurance solutions to help streamline our client's daily operations. Our Master Port Risk Program provides commercial vessel owners, mortgagees and other interested parties a more economical way to insure their stacked equipment which is of the utmost importance during difficult economic periods."
The new Master Port Risk Program is designed to provide Hull and Liability coverage for qualified vessels that are laid up and out of commission for an extended period of time. Under the program, insureds have the opportunity to remove their vessels from a navigating policy at a greatly reduced cost. Vessels may be insured up to an agreed hull value. Liability limits for the program will be a minimum of $1,000,000 with options for higher limits. For approved insured's, CUL can design operational insurance separately from their Port Risk program where additional extensions can be added to the base policy conditions.
Headquartered in Covington, Louisiana, Fidelis Group Holdings, LLC is a leading provider of all lines of marine insurances including Hull and Machinery, P&I, Marine Liabilities, Inland Marine, Ocean Cargo, and Excess Marine Liabilities for commercial insureds on a global basis. FGH provides underwriting, broker services, claims management and loss control assistance for its clients. The Company's subsidiary, Continental Underwriters, Ltd., (http://cultd.com) also represents a number of highly rated insurers.