Insurer launches commercial arm

Insurer launches commercial arm

Insurer launches commercial arm NM Insurance has launched a commercial marine business, it has been announced.

Proteus Marine Insurance will provide commercial marine insurance products and services such as marine cargo, liability and commercial hull insurance and other commercial marine products, according to a statement released by the company.

Underwriting in Australia will be overseen by David Hoffman while claims will be managed by Peter Latemore; each has 20 and 25 years of industry experience respectively.

CEO of NM Insurance, Lyndon Turner, believes that commercial marine lines will be an avenue of growth for the company.
 
“Commercial marine lines are a key growth opportunity for our group. With the expertise of our underwriters, claims staff and supporting syndicate at Lloyd's, we will offer unique value in this space.”
 
“We look forward to working with our partners to explore further opportunities."
 
Local underwriting and claims management will be backed by a Lloyd’s partnership via the Watkins Syndicate 457 (Munich Re Underwriting) and the experience of the syndicate is just one reason for the company launch.
 
“We have experienced underwriters across Australia and New Zealand, in the commercial marine insurance space to complement our other products and services.
 
“This experience is coupled with the worldwide expertise of our marine focussed Lloyd's partners, whom we have been partners with for the last 5 years in our marine lines,” Turner noted.

Alongside Proteus Insurance, brands that fall under the NM Insurance banner include Nautilus Marine Insurance, Mi-Bike Motorcycle Insurance and NM Insurance (New Zealand).