Marine

Marine insurance is one of the great divisions of insurance coverage – likely the earliest form of insurance and one still very much in use today. Its focus is “instrumentalities of transportation.” Thus, we look to marine insurance to respond to commercial shipments by any medium (ships, trains, trucks), as well as insurance for bridges, cranes, etc. Marine insurance is the form that we look to, to address ships and planes.

In its “dry” form, we use inland marine insurance to cover buildings under construction (“builders risk”), collections of fine arts and other high value items.

You likely have at least one or more forms of marine insurance in your portfolio without even being aware of it. Talk with your PA&T professional about reviewing your insurance program to make certain that you have the appropriate marine coverages in your program.