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

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Japan Military Wants China "Crisis Management" Pact

Japan's highest-ranking military officer on Friday urged an early start to a "crisis management" mechanism with China amid conflicting claims to a group of tiny East China Sea islands.

Finance

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Asian Airlines Pause Before Hedging on Fuel

Oil fell to four-year low of $72 on Thursday; Airlines hope the price will slip below $70 a barrel. Airlines in Asia-Pacific are holding off from hedging their

Maritime Security

NATO Unconcerned by Russian Warships in English Channel

A squadron of Russian warships entered the English Channel on Friday but a NATO official dismissed a Russian media report that they were there to conduct military exercises.

High Seas Becoming Less Secure

Despite the significant reduction in piracy attacks over the last few years it is now widely accepted by the maritime community that the safety of the High Seas

Subsea Defense & the Changing Paradigm of Submarine Programs

Technology and dynamic mission profiles have driven change in the defense industry, Hydro Group Plc Managing Director Doug Whyte, explores the changing paradigm of submarine programs,

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.5653 sec (2 req/sec)