NORTH KINGSTOWN, R.I., Dec. 3, 2019 /PRNewswire/ -- Effective January 1, 2020, Ascot Group will become the newest security partner for Safe Harbor Pollution Insurance. Ascot joins an existing panel of admitted supporters, including Starr Indemnity & Liability Company (A.M. Best 'A Excellent' rated) and Berkshire Hathaway Specialty Insurance (A.M. Best 'A++ Superior' rated), plus fronting partner State National (A.M. Best 'A Excellent' rated).
Tony Gerone and Russ Brown, partners at Safe Harbor, expressed, "By combining Ascot with Starr and Berkshire Hathaway, we are uniting major players in the marine insurance market and can confidently offer the best security in the industry. This will help us continue our unprecedented growth and the ability to offer world-class customer service."
Brown adds, "In this market, it is great to add such a strong partner when others are losing theirs. It speaks to our viability and our emerging position as the premier pollution underwriter in the industry."
Christopher Piazza, executive vice president, head of U.S. Marine at Ascot Group adds, "Ascot is proud of our new partnership with Safe Harbor Pollution Insurance. It gives us the ability to provide capital from our 'A' Rated Admitted Paper, Ascot Insurance Company (AIC), and expand upon our global footprint in marine pollution insurance alongside our Lloyd's Syndicate 1414. Participating on this panel will round out our suite of U.S. marine products and provide our customers with best-in-class marine pollution solutions."
This enthusiasm is echoed by other London-based members of the Safe Harbor security panel:
Paul Folwell, account executive at Miller Insurance Services, LLP says, "Safe Harbor has continued to show strength in a challenging market by ensuring transparency with its security partners and a commitment to service that it continuously reminds us of. It is no surprise at Miller Insurance that the support for Safe Harbor is continuing to grow."
"Having worked with Safe Harbor from its early days using London capacity, it is very impressive how it has grown and continued to provide strong results and service to all of its customers. We expect this trend to continue into the coming years and so does the London market," adds Alex Barrow, account executive for Miller Insurance.
On the cusp of their seventh year in business, Jack Falvey, vice president of operations for Safe Harbor, notes the significance of this partnership.
"Safe Harbor is very fortunate to have the strong support of our current panel. The team at Starr Indemnity & Liability Company has been an amazing partner since the onset and is the cornerstone of the Safe Harbor success story. Berkshire Hathaway is another very strong and valuable partner, providing us with stable and long-term support from a great team that understands the Safe Harbor vision. Finally, through State National, we can utilize the strong and respected capacity of the Lloyd's marketplace to ensure we are able to find solutions for our clients.
Adding capacity in the current market environment is a confirmation that the Safe Harbor strategy and commitment to service is not only viable, but sustainable. While also being our lead supporter in London, Ascot has doubled its commitment to Safe Harbor by joining an elite panel of security providers as named company on all of our policies."
In addition to this partnership, Safe Harbor will be the newest coverholder at Lloyd's of London as of January 1, 2020, further solidifying its strength in the market. Safe Harbor will continue to expand and provide world-class international pollution risk solutions.
About Safe Harbor Pollution Insurance
At Safe Harbor, the newest name in vessel pollution insurance is also the most experienced. With roughly 50 cumulative years of experience, Safe Harbor offers the strongest and longest track record of continuous applied expertise in the vessel pollution industry. Safe Harbor supports clients with the industry's leading infrastructure and institutional knowledge available in the market today. Offering the broadest coverage, largest spill response network and most transparent claims process in the industry, Safe Harbor is more than an paper; but a partner and vessel pollution expert you can trust. – www.safeharborpollutioninsurance.com
About Ascot Group
Ascot Group Limited is a Bermuda domiciled global specialist in insurance and reinsurance. Built on a foundation of underwriting expertise, the Group comprises four divisions: Ascot Underwriting Limited-a Managing Agent for Syndicate 1414 at Lloyd's; Ascot Reinsurance Company Limited-a Bermuda based specialty reinsurer; Ethos Specialty Insurance Services LLC-a New York based Managing General Underwriter (MGU); and Ascot Insurance U.S. – an admitted and surplus lines insurance business.
Ascot Group is owned by Canada Pension Plan Investment Board (CPPIB), the largest pension plan in Canada with over C$300 billion in invested assets and is 'AAA' rated by S&P and Moody's. – www.ascotgroup.com
About State National
State National was founded in 1973 to simplify the complexities of insurance for our clients. From the beginning, our high-quality programs and superior service helped us create a unique insurance company that thrives on strong customer relationships and customized solutions to address the nuances of each customer's business. Our innovative insurance products are the foundation of our Collateral Protection Insurance business. In 1979, we expanded our products to include a fresh perspective on insurance by assuming control of our first insurance company, the genesis for our fronting business. Through a strong history of strategic alliances and acquisitions, State National brings together people and technology to remove barriers. – www.statenational.com
About STARR Companies
STARR Companies (or STARR) is the worldwide marketing name for the services offered by the operating insurance and travel assistance companies and subsidiaries of STARR International Company, Inc. and for the investment business of C.V. Starr & Co., Inc. The shared history of STARR Companies can be traced back to December 1919, when Cornelius Vander Starr founded an insurance company in Shanghai, China. Starr formed STARR International in September 1943 in Panama. During the 1940s, STARR International became the parent company to all of the overseas companies. C.V. Starr was incorporated in 1950 and served as the parent company for various Starr insurance enterprises. Starr Indemnity & Liability Company holds an A.M. Best financial strength rating (FSR) of "A" (Excellent), Financial Size Category XIV, and an issuer credit rating (ICR) of "A". – www.starrcompanies.com
About Berkshire Hathaway
Berkshire Hathaway Specialty Insurance provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, and homeowners insurance. We are part of Berkshire Hathaway's National Indemnity group of insurance companies, consisting of National Indemnity and its affiliates, which hold financial strength ratings of A++ from AM Best and AA+ from Standard & Poor's. We are part of Berkshire Hathaway's insurance operation, which has been in business since 1940 and has a long history of writing all types of risks, including the most complex. The Berkshire Hathaway brand is synonymous with trust, integrity and prudent risk taking. It is a company known for doing the right thing for customers, colleagues and business partners. BHSI is continuing – and building on –this tradition. – www.bhspecialty.com
SOURCE Safe Harbor Pollution Insurance