Sompo launches marine insurance proposition for the UK market

Bermuda-based commercial and consumer property/casualty insurance and reinsurance provider Sompo has announced the launch of a new national marine insurance proposition for the UK.

The Sompo Marine Cargo UK policy and its shipping and logistics propositions are both designed to provide easy-to-understand cover and are aimed at brokers and clients in the UK in addition to London.

Marine Cargo UK offers all risk cover, removing institute cargo clauses so customers know they are automatically covered by the policy unless specific exclusions are specified. In addition, all policy coverage is now in one document, simplifying the customer journey, Sompo explained.

Transport & Logistics UK also offers a complete package solution under one form, covering freight liability, employer’s liability, public liability, products and pollution and goods (property damage and business interruption covers). It is aimed at freight forwarders, road carriers, couriers, warehouses, customs brokers, contract logistics companies and forwarders.

Out of London, the lines are led by Diane Blyth, Head (Retail) Marine Cargo UK Regions and Jon Clare, Head (Retail) Transport & Logistics, UK Regions. Both report to Paul Ashworth, Head of Aviation, Energy & Marine, who also manages Sompo’s maritime business in London.

“We are constantly looking at ways to adapt our business model to ensure we provide the best possible service and experience to UK brokers and clients,” commented Bob Thaker, CEO, Commercial P&C Insurance, Sompo, UK.

“By increasing capacity and establishing an outstanding team of underwriters based regionally, our new proposition extends the offering we currently offer in London so that we can now also meet the growing regional demand to write direct marine policies freight and transport and logistics,” Thaker added. “Both have been developed to be as simple as possible and are supported by our highly experienced team of marine specialists to remove uncertainty and provide peace of mind for our customers.”

“Sompo” refers to the brand under which Sompo International Holdings Ltd., the Bermuda-based holding company, together with its consolidated subsidiaries, conducts its property/casualty/reinsurance/reinsurance business.

Source: Sompo

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