Travelers Develops New Marine Construction Insurance Package

Tuesday, August 02, 2011

Whether building piers and docks, repairing bridges or retrofitting port facilities, construction contractors experienced in working along the waterfront are in demand. To help construction contractors manage both the marine and non-marine exposures that come with working in and around the water, Travelers has developed the Marine Construction program, an insurance package that combines specialized underwriting, risk mitigation solutions and claim services.
“Construction contractors who work around the waterfront face a number of complex risks when managing marine, non-marine and contractual liability exposures,” said Virginia Cameron, Chief Underwriting Officer, Travelers Ocean Marine. “Travelers combined its...experience in the marine and construction industries to create an extensive combination of insurance, risk management and claim services for construction contractors working in and around the water.”
The Travelers Marine Construction program can be customized to fit each contractor’s needs by combining key marine and non-marine coverages. Some of the available coverages include:
 

·       Marine General Liability – coverage for products and completed operations liability for work performed from watercraft

·       Marine Contractors Liability – coverage for property damage to marine structures under construction while in the insured’s care, custody or control

·       Bumbershoot – providing excess liability protection over both marine and non-marine coverages, including auto, and general and employer’s liability

·       Commercial Hull and Protection and Indemnity (P&I) – providing physical damage and liability protection for owned vessels

·       Contractors Equipment
– including protection while waterborne

·       Joint Ventures, Discontinued Operations, Owners Contractors Protective and Railroad Protective Coverage can also be arranged


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