Fidelis Offers Additional Marine Insurance Excess Cover
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. "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.
Headquartered in Louisiana, Fidelis Group Holdings, LLC is a leading provider of primary and excess marine insurance for physical damage and liability (P&I) coverages for vessel owner's, ship builders, terminal operators, fleet operators, stevedore's, cargo handlers, inland marine, as well as, coverage for marine contractors.
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.