Insurance Underwriter News

When it comes to insuring your assets, changing markets and risk variables demand better understanding of the underwriting process, as well as a long-term, stable relationship with an insurer who – like you – is in for the long run.U.S. inventor Thomas Edison once said, “There is no substitute for hard work.” Nobody knows this better than the men and women who operate diverse and industrious workboat fleets.Ferrying commuters, towing dry and liquid bulk, and assisting larger ocean…

John Moy has joined the team at Water Quality Insurance Syndicate as Vice President of Underwriting. John will lead the WQIS underwriting department. John came to WQIS from Crum & Forster where he served as the Vice President of United States Fire Insurance Company for the past five years. Previous to his tenure there, he was the Regional Underwriting Manager at XL America, working in marine and offshore energy insurance. With a Bachelors of Science in Marine Transportation from Kings Point, Moy started his career as a naval architect before becoming a marine liability insurance underwriter. He also honorably served as a Lieutenant Commander in  the US Naval Reserve until 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…

Fidelis Group Holdings LLC offers a new US$25-million excess marine liability facility for the maritime industry. Fidelis Group Holdings LLC (FGH) through its subsidiary company Continental Underwriters, Ltd., announce details of their new US$25,000,000 Excess Marine Liability facility for the maritime industry. The insurer for the program is Houston Casualty Company 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.

Officials from the northern Canadian port of Churchill, Manitoba, are lobbying insurance giant Lloyd's of London to reduce the rates and extend the season for the Hudson Bay shipping terminal, Reuters reported. "There's a clear business case for this," Steve Ashton, Manitoba's government services minister told Reuters on Wednesday. "We felt that giving the current weather patterns and also the technology that's out there, and the general ability to get ships in, that there was a clear argument for the enhancement of the shipping season, said Ashton. Ashton is part of a Canadian delegation in Europe that is meeting with Lloyd's officials, international shipping companies and specialty crop merchants to boost Churchill's profile and long-term viability.

Officials from the northern Canadian port of Churchill, Manitoba, last month lobbied insurance giant Lloyd's of London to reduce the rates and extend the season for the Hudson Bay shipping terminal. "There's a clear business case for this," Steve Ashton, Manitoba's government services minister said. "We felt that giving the current weather patterns and also the technology that's out there, and the general ability to get ships in, that there was a clear argument for the enhancement of the shipping season, said Ashton. Ashton is part of a Canadian delegation in Europe that is meeting with Lloyd's officials, international shipping companies and specialty crop merchants to boost Churchill's profile and long-term viability.

Seabulk International, Inc. has reported a net loss of $4.4 million or $0.41 per diluted share for the quarter ended June 30, 2002. In the year-earlier period, the company had net income of $2.7 million or $0.25 per diluted share. Revenues of $81.6 million in the current quarter were down 11 percent from $91.4 million a year ago, due primarily to reduced demand and lower day rates for the company's offshore vessels in the important Gulf of Mexico market. Operating income of $8.5 million was down from $18.9 million earned in the second quarter of 2001. The Company also announced that it would revise both its first quarter 2002 and its…