SafeWaters expands portfolio of marine offerings

SafeWaters expands portfolio of marine offerings | Insurance Business

SafeWaters expands portfolio of marine offerings

SafeWaters Underwriting Managers has expanded its portfolio of marine offerings. The yacht insurance specialist has started providing cargo coverage (including logistics and project cargo) in the US, and hull & machinery and marine liabilities coverage in Latin America.

The products are backed by Aspen Insurance.

“[W]e are bringing the capacity and strong security of one of the global leaders of specialty lines to our clients. Aspen’s sound underwriting and risk management principles, and their exceptional reputation in the marine sector will help to provide an expanded suite of coverage,” said SafeWaters president and CEO Jorge Pecci.

For his part, Aspen Insurance head of US marine Pat Hickey said his firm looks forward to a long-term collaboration with the yacht insurance specialist, to deliver a custom solution to ocean marine insurance buyers.

“We both prioritize technical underwriting and focus on loss prevention services to help our customers manage their risk exposures more effectively,” said SafeWaters Cargo Insurance senior vice president, Jose Harfuch. “This new agreement puts Aspen’s strong financial ratings and deep marine industry knowledge to work with our marine underwriting expertise and specialized claims management experience.”

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