XL Specialty Launches New Commercial Marine Coverage

XL Specialty Insurance Company, a unit of Bermuda-based XL Capital Ltd., has launched a new Commercial Marine Liability (CML) policy available through its Marine & Offshore Energy (MOE) unit.

“Designed for shipyards, marine terminals, stevedores and other maritime operations, XL Insurance’s new CML policy provides primary liability coverage with limits up to $1 million,” said the bulletin.

Jeffery Kaufmann, Chief Underwriter – Marine & Offshore Energy (Americas), the program will be serviced in the U.S. by XL Insurance’s regional marine underwriters.Through our regional underwriting teams, we are able to offer our marine clients exceptional local service with access to XL Insurance’s broad and global product mix.

“With our local expertise, we are well equipped and determined to keep pace with the marine industry’s changing risk management needs by introducing enhanced programs such as this new CML policy,” Kaufmann added.

XL Insurance’s Marine & Offshore Energy unit provides a broad array of coverages to the marine industry, including Cargo, Bluewater Hull, Brownwater Hull, Primary and Excess Liabilities.

Source: XL Specialty