FGH Expands Marine Insurance Capabilities

press release
Wednesday, November 14, 2012

Fidelis Group Holdings LLC Announces Additional Excess Marine Liability Capacity For The Maritime Industry.


Fidelis Group Holdings LLC (FGH) through its subsidiary company Continental Underwriters, Ltd., a leader in providing Marine Insurance coverages and services, announced today details of their new $25,000,000 Excess Marine Liability facility for the maritime industry.  The insurer for the program is Houston Casualty Company (NYSE: HCC) rated A+ by A.M. Best.  The program is designed to write excess marine liability insurance including Bumbershoot Liability excess of acceptable underlying insurers.

 

"The addition of this new excess marine liability facility will further expand FGH's marine insurance capabilities by providing to the market responsible excess capacity underwriting with excellent security," explained H. Elder Brown, Jr., President and CEO of FGH. "As Continental continues to implement its strategy for growth throughout the maritime industry, we feel the addition of this class of business is timely given the need for serious market capacity with the very best market security," Brown noted.

 

Joseph Morency has been named senior manager of this new FGH division and will oversee the program.  Morency has vast experience underwriting and managing excess marine liabilities over his more than twenty years as a marine insurance underwriter.  He will operate from the company's Melville, New York offices.

 

"Having someone of the caliber of senior executive Joe Morency overseeing this program will ensure the highest degree of management for our company and our underwriting partners," Brown said. "Mr. Morency is a respected market leader with a tremendous wealth of underwriting knowledge and talent," Brown added.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

DP World Launches $1.2 bln Sukuk Issue to Cover Tender

Dubai-based ports operator DP World launched a seven-year $1.2 billion sukuk issue on Tuesday, a document from lead managers showed.   The issue, structured to

Baltic Index Falls on Weaker Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday as demand for larger vessel segments declined.

China Shipbuilding Plans Major Restructuring

State-owned China Shipbuilding Industry Corp (CSIC) is undertaking a major restructuring as it grapples with an industry downturn, and it will be the largest restructuring

Casualties

Bulker Loses Propulsion off California

The U.S. Coast Guard is monitoring a 587-foot bulk carrier Ultra Lascar after the ship lost propulsion at 10:20 a.m., approximately five miles offshore from Daly City, Calif.

Cyclone Roanu kills 21 in Bangladesh

A cyclone battered coastal Bangladesh on Saturday, killing at least 21 people and injuring many more, but has now weakened into a depression that the weather office

Human Remains and Belongings Found from Plane Crash at Sea

Egypt said on Friday its navy had found human remains, wreckage and the personal belongings of passengers floating in the Mediterranean, confirmation that an EgyptAir

Insurance

Towing Vessel Inspection Bureau Elects New Leaders

Towing Vessel Inspection Bureau Holds Annual Membership Meeting; Elects New Leadership and Votes to Proceed with a Third Party Organization Application to the Coast

NTSB Determines Faults Leading to Fatal Collision

In examining the deadly collision of tugboat/barge Caribbean Sea/The Resource with Amphibious Passenger Vehicle DUKW 34, the U.S. National Transportation Safety

London P&I Club Reports Increased Free Reserves

The London P&I Club’s result for the 2015/2016 financial year produced an overall operating surplus of $3.3 million, lifting the free reserve to $160.7 million.

 
 
Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0718 sec (14 req/sec)