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British Marine is internationally respected for providing fixed cost insurance for marine and intermodal transportation risks. P&I, H&M and FD&D insurances for small / medium sized ships; Personal, Professional and Intermodal liability insurance for transport professionals and operators. A member of QBE Insurance Group,
British Marine offers fixed premiums with no standard increase, backed by 'A+' rated security, and takes pride in providing prompt, high quality service.
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| By Robert Johnston |
03 Dec 2009 |
As customary, British Marine will not be asking for a standard increase in rating at the forthcoming 2010 renewal, rather we will continue to ask our owners to pay a premium that reflects their own individual claims’ performance, and allows for the price of our Reinsurance programme and the cost of administration.
Administration costs are a sterling expenditure and have necessarily been affected by the continuing weakness of the dollar, which is by far our major premium currency. As regards our 2010 reinsurance costs, we have commenced renewal discussions with our Underwriters. We recommend owners to anticipate an increase in premium of 3%, in order to meet the Company’s 2010 administration and reinsurance outlay.
As a core company within QBE, we are delighted to be able to confirm the robust health of QBE, which continues to report outstanding results. From early in 2010 we will cease underwriting as British Marine Luxembourg and transfer wholly to QBE security, thereby enabling us to underwrite on both QBE Company or Lloyd’s paper whichever is in the best interest of our clients. British Marine will, of course, continue to operate as an independent franchise within the QBE stable.
We look forward to continuing to be of service to you, and thank you for your loyal support.
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