Marine Insurance

From Super Yachts, to Sub-Sea Operations and Beyond

Specialist Insurance for the Maritime Industry

Advances in smart shipping and autonomous technology are enabling a new era of maritime development. Enhancements in ship construction, the emergence of mega-sized vessels, cutting-edge materials, intelligent shipping systems, advanced propulsion methods, robotics, comprehensive data analysis, and an array of sensors have collectively streamlined operations on the world’s waters.

This is enabling new forms of maritime activity, but also brings new forms of risk.  The maritime needs to trade knowing its business is suitably protected.   Elmore delivers bespoke, focused Marine Insurance for the different participants of the maritime industry.

Shipping Insurance

Ports & Terminals
Insurance

Offshore and Oil
& Gas Insurance

Super yatch
insurance

Marine Fleet
Insurance

Sub-Sea Insurance

Shipbuilder & Repair
Insurance

Ship Manager
Insurance

Cargo Insurance

Aquaculture Insurance

Stock throughput
Insurance

Marine Equipment
Insurance

Elmore Marine Insurance

Reliance on networks, systems, data, cloud technology, and outsourced service providers exposes the martime industry to an array of risks. 

Changes to regulation, perception to corporate responsibility and increased media attention towards the martime industry have focused the importance of effective operational, financial and technology risk management.

The maritime industries are both rapidly growing, and are playing an increasingly important role in the global trade system.

The Elmore Marine Insurance Solution

Marine Insurance Explained

With the backing of experienced Insurers behind the Maritime industry it can trade knowing their balance sheet has critical support should the unthinkable happen. 

Firms operating in the Maritime industry are increasingly adopting and leveraging advanced technologies to deliver innovative services.  While these innovative technologies present opportunities, they may also pose new sources of risks.

Elmore Marine Insurance – Policy Coverage

The following cover can be combined in one policy or offered in separate policies:

Directors & Officers
Liability

  • Claims by regulators
  • Claims by shareholders
  • Claims by employees
  • Claims by other stakeholders

Professional Indemnity Insurance (PII)

  • Claims by customers
  • Claims for failure of service
  • Claims for failure of technology
  • Mitigation costs to put right

Cyber & Crime
Insurance

  • Event management
  • Reputation management
  • Financial loss incl. fines
  • Cyber liability

Office & Employee
Insurance

  • Property and equipment
  • Employers liability
  • Public liability
  • Travel insurance

Multi-National Marine Programme Management

With global risk requires a coordinated approach to Insurance acquisition.  Elmore’s network of established insurance partners around the world allows for a Global Insurance Programme.  With the requirement to have local policies while being coordinated by one centralised function it can allow better compliance and visibility into the global requirements.

Partner With Insurers

With a captive audience and engaged users why not consider cross selling insurance solutions along side the Maritime offering adding value to customers, differentiating your offering and brining a new income stream for the business.  

Elmore delivers bespoke and innovative programmes for both consumer and business users, gee in touch to learn more.

Marine Risk Management

For a marine firm to partner successfully with it’s key stakeholders, it must appreciate the breadth and depth of financial and technology risk management.

In particular, the Maritime firms must understand the operational risk considerations that a stakeholder will need to consider before engaging them. 

By following best practice controls and processes required to onboard insurance it can improves the overall governance and acceptance of a maritime firm.

The diagram represents the benefits of mitigating and reducing risk to optimise risk transfer through insurance:

Marine Insurance Explained

Elmore experienced claims team is committed to meeting the highest standards of service and operational excellence.  Seasoned professionals are aligned with each specialty product line and geography and consistently employ best practice standards. As needed, Elmore partner with specialised claims consultants to ensure that no matter how complex an Insurers claims may be, the proper technical expertise is employed to analyse and resolve the loss.

Keeping Your Data Secure

We take cyber security seriously and are one of the few in the insurance industry to certify with Cyber Essentials. Implementation of Cyber Essentials controls can significantly reduce the risk of prevalent but unskilled cyber-attack.

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