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)
- 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
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