Inland Marine Insurance News

From high-traffic ports to bustling boatyards, and busy shipyards to expanding marinas, marine professionals operate in a challenging environment. They work on land, on or around water, and are exposed to all kinds of weather. And the challenges won’t ease up any time soon. Our nation’s ports continue to expand as trade surges. Add in increased commercial vessel traffic and recreational boating, and it’s clear that marine businesses have to be in shipshape condition. It means that the marine insurance industry has to stay on its toes too…

Though water covers more than 70 percent of the Earth’s surface, businesses engaged in marine shipping operations and logistics, and other businesses that manufacture and ship product still have a lot of ground to cover getting their various goods to their final destinations. The ocean marine insurance market, the oldest insurance market in the world, was initially developed to protect these goods while crossing the ocean’s open waters, later to morph into a product to protect all international transportation regardless of mode.

XL Catlin continues to expand its inland marine field operations with the addition of Russell Crooks as Vice President, National Inland Marine Director, based in San Francisco and Maria Klein as senior underwriter in Baltimore. In his new role with XL Catlin, Crooks will liaise with brokers and clients throughout the western US to address their diverse inland marine insurance needs including motor truck cargo, builder’s risk, contractor’s equipment, and logistics inland marine products, among others. Most recently, he served as Chubb’s regional inland marine practice leader and underwriter.

XL Catlin today announced the promotion of Anne Marie Elder to the role of Chief Underwriting Officer Marine for the Americas region. Elder in her new leadership role now reports to Lee Meyrick, XL Catlin’s Chief Underwriting Officer for Global Marine, in London. Elder, who previously held the position of Senior Vice President and Chief Underwriting Officer, Inland Marine in North America,  assumes the role formerly held by Richard DeSimone. DeSimone, who joined XL Catlin in 2011 to help build its North America Marine capabilities, retired from the company on December 31, 2015. According to Meyrick, “Under Rich’s leadership, we expanded our team in North America and created a comprehensive portfolio of Bluewater and Brownwater Hull…

Infrastructure renewal and engineering combine to provide an obscure, often under-appreciated, but nevertheless critically important aspect of marine operations. In the Pacific Northwest, for example, the waterway abundant geography provides engineering and specialized moving company Omega Morgan with all sorts of challenges that involve bridges spanning rivers. Whether crossing or moving these spans, West Coast-based Omega Morgan, faces particularly unique engineering challenges.

The Inland Marine Underwriters Association (IMUA) announced the 2014 dates for its Introduction to Commercial Inland Marine course. The two-day Introduction to Commercial Inland Marine course will be held at IMUA Headquarters, 14 Wall St., NYC, on September 19 & 20, 2013 from 9 a.m.-5 p.m. This two-day introductory course is designed to cover the basics of commercial inland marine insurance, with emphasis on the largest/key inland marine classes of business. “This intense two…

The Inland Marine Underwriters Association (IMUA) announced its summer Professional Development educational events for 2013 which includes workshops, webinars, courses and field trips. The program concludes with the two-day Introduction to Commercial Inland Marine Insurance course in September. In making the announcement, Kevin O’Brien, IMUA President & CEO, said, “We have prepared a variety of educational opportunities for both members and non-members alike to explore over the summers months. The IMUA summer Professional Development schedule kicks off with a one-day workshop jointly sponsored with AIMU on Thursday, July 25, 2013 in New York with Learn to Negotiate.

Gina Domitrovich, AMIM, Senior Marine Underwriter, AIG Global Marine & Energy, is the first recipient of the new American Marine Claims Award, by Inland Marine Underwriters Association’s (IMUA). The award presentation was made closing ceremonies during IMUA"s 83rd Annual Meeting held in Buckhead, Atlanta, GA. As the winner of the American Marine Claims Award, Ms. Domitrovich will receive a $2,000 cash award and a stipend towards attendance at the International Marine Claims Conference held in Dublin, Ireland. The Award based on the developments of several educational requirements including the preparation of an essay. The award is supported by the following marine insurance associations: the American Institute of Marine Underwriters (AIMU)…

Grace D. Thomas, Senior Vice President at Great American Insurance Company and a former Chairperson of the Inland Marine Underwriters Association (IMUA), was presented with a Lifetime Achievement Award at the association’s Annual Meeting held mid-May. Ms. Thomas was one of three individuals recognized by the IMUA. The others included Arthur L. Flitner, CPCU, Senior Director of Knowledge Resources at The Institutes – Excellence in Education; and Julie A. Saunders, Inland Marine Business Unit Audit Lead, Travelers – 2012 Outstanding Committee Person.

The Inland Marine Underwriters Association (IMUA) announced it will be presenting for the first time AMIM 122, a 12-part comprehensive study of the primary inland marine classes of business, in webinar format beginning in the first quarter of 2012. The AMIM 122 course was developed by The Institutes (AICPCU) to provide the fundamental knowledge needed for professional competency in handling inland marine insurance. According to IMUA, the principal thrust of the content of this…

The US Court of Appeals for the Seventh Circuit ruled that, under Michigan law, a builders risk insurance policy is a form of inland marine insurance and is controlled by the statute of limitations applicable thereto. For our purposes, the decision is probably most interesting in its historical analysis of the insurance industry and the division of casualty insurance into two large groups: fire insurance and marine insurance. Under Michigan law, fire insurance claims must be submitted within one year of the casualty. All other casualty insurance claims are subject to a six-year statute of limitations. [Source: HK Law]