New Marine Trade Insurance Scheme Gets Exciting Response From Market

Share Article

Bowline®, the new Marine Trade Insurance scheme recently launched by Insurance Risk & Claims Management Ltd (IRCM) has received an exciting response from the UK Marine Sector. The AA Rated protection underwritten by Allianz Global Corporate & Specialty is already delivering significant premium savings to marine-based businesses.

large marina

211-May-Port-Pendennis-Marina

Importantly business owners need to be aware that the facility is not simply a price-driven product. IRCM’s strategy is to improve coverage for their clients whilst reducing costs.

Bowline®, the new Marine Trade Insurance scheme recently launched by Insurance Risk & Claims Management Ltd (IRCM) has received an exciting response from the UK Marine Sector.

The AA Rated protection underwritten by Allianz Global Corporate & Specialty is already delivering significant premium savings to marine-based businesses. Those businesses range from large marinas and commercial marine engineers to small boatyards and sole-trading marine contractors.

A good example would be a Large Marina whose current annual premium is £21,000 could be reduced by up to 28%. Making the Bowline annual policy approx £15,000, producing a saving in the region of £6,000

Further examples of the savings that businesses have already benefitted from by switching their insurance provision to the IRCM Bowline® policy can be found on the Marine Insurance website.

Importantly business owners need to be aware that the facility is not simply a price-driven product. IRCM’s strategy is to improve coverage for their clients whilst reducing costs.

Mark Elcocks, IRCM’s Specialist Risks Manager said. “Many businesses look to reduce insurance costs by stripping out important cover or deliberately underinsuring. Both steps potentially expose the business and the business owner to catastrophic financial loss. IRCM’s process is to conduct a full Risk and Insurance Audit to establish the precise needs of the client. It is only when we are satisfied we have recommended the right programme that we look at reducing costs."

Bowline® is aimed at a variety of Marine-based businesses, including marinas, boatyards, boatbuilders, marine engineers, chandlers and holiday hire fleets. For further information on IRCM’s Marine Trade Insurance products telephone Mark Elcocks on 0044 1902 796 793 or visit http://www.marineinsurance-ircm.co.uk.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Andrew Mason
Visit website