The British Insurance Brokers’ Association (BIBA) has launched a new marine insurance scheme for members with specialist broker MercariRisk, offering expert knowledge, advice, training, joint client calls if required, and easy access to the marine insurance market. Comprehensive cover includes cargo insurance (including stock-throughput), freight liability insurance for hauliers, hull and liability cover for commercial vessels, charter yachts, commercial maritime operations, super yachts and yachts and pleasure craft.
The new scheme is underwritten by leading underwriters in the London ‘companies’ market and Lloyd’s, that bring A+ rated capacity as well as global reach.
MercariRisk acts as a bridge between brokers and the marine insurance market, helping general brokers to place marine insurance and maritime risks and lever opportunities which may otherwise be left untapped.
Mike Hallam, BIBA’s Head of Technical Services, said: “We are delighted to offer an opportunity for our members to place marine insurance. MercariRisk has proven expertise in this area that will be of benefit to those needing help with this specialist class of insurance, as well as easy access to the marine insurance market against a backdrop of reduced capacity and a market that has hardened.”
Alan Wilkins, CEO of MercariRisk, said: “We are delighted to be appointed by BIBA and stand ready to help and support BIBA members with their marine insurance needs. We will help guide members through the technicalities of marine insurance and provide them with a friendly face and supportive access to the marine market. ‘Mercari’ means ‘to trade’ in Latin and this illustrates our focus and ethos.”
Henry Haystead, Director of MercariRisk, said: “We have deep and wide experience in underwriting and broking in the UK provincial market, Lloyd’s and worldwide, underpinned by real world knowledge of the maritime and logistics sectors. This will be put to good use to help BIBA members work through the complexities of marine insurance, as well as give them the confidence to tackle the marine insurance needs of their clients.”
Hallam concluded: “Our schemes give members more opportunity to find insurance to fit their customer’s needs and we look forward to working with the team at Mercari Risk to do just that.”