"Our intension is to protect our brokers and insureds interest after this devastating situation" said Christopher Pesce, MPG's President.
Westbrook, CT (PRWEB) December 28, 2012
Many marine facilities that were badly damaged by Super Storm Sandy have been forced to move their customer's boats to alternative locations for temporary or replacement storage. While there is an obvious need for doing so, the insured may be unintentionally creating a lapse in coverage as their Marina Operators Legal Liability policy typically does not cover vessels stored in unscheduled locations. To address this issue, Maritime Program Group (MPG) granted an extension of coverage.
Maritime Program Group, which is a program administrator for North American Specialty's (NAS) recreational marine insurance program, agreed to provide an extension of coverage under NAS's Marina Operators Legal Liability section of the policy for customer's vessels stored in undisclosed locations.
"Our intension is to protect our brokers and insureds interest after this devastating situation" said Christopher Pesce, MPG's President. "We strongly recommend insureds that have placed a vessel in another marina to have that marina enter into a storage agreement with the boat owner as soon as practical. If a vessel is stored in an unsecured location other than a marina, the insured should notify the boat owner immediately to advise them the vessel is in an unsecured facility and they should coordinate with their insurance carrier to arrange for alternative storage immediately."
Maritime Program Group is a Program Administrator providing a full range of marine insurance products and underwriting services to its broker network throughout the United States. MPG specializes in protecting all types of marine-related assets across every category of marine risks – Recreational Marine, Inland Marine, and Ocean Marine Insurance. Through its Private Client Services the company serves the individual insurance needs of high net worth clients. MPG’s nearly 60 employees are strategically located in offices nationwide, with primary offices in Westbrook, CT and Manchester, NH. For more information about Maritime Program Group visit http://www.maritimepg.com or call 800.366.8086 Ext. 1658.