Fidelis Group Holdings, LLC (FGH) with its subsidiary company Continental Underwriters, Ltd. (CUL), have launched a new Master Port Risk Program.
According to H. Elder Brown, Jr., president and chief executive officer the Master Port Risk Program provides commercial vessel owners, mortgagees and other interested parties a more economical way to insure their stacked equipment, which he said is of most important during difficult economic periods.
The new Master Port Risk Program is designed to provide hull and liability coverage for qualified vessels that are laid up and out of commission for an extended period of time. Under the program, insureds have can remove their vessels from a navigating policy at a reduced cost. Vessels may be insured up to an agreed hull value. Liability limits for the program will be a minimum of $1 million with options for higher limits. For approved insured’s, CUL can design operational insurance separately from their Port Risk program where additional extensions can be added to the base policy conditions.
Headquartered in Covington, Louisiana, Fidelis Group Holdings, LLC provides all lines of marine insurances including hull and machinery, P&I, marine liabilities, inland marine, ocean cargo, and excess marine liabilities for commercial insureds on a global basis. FGH provides underwriting, broker services, claims management and loss control assistance.