Global speciality insurer
Brit Limited has launched a new Lloyd’s consortium for yachts, which starts with immediate effect.
The consortium will have capacity of US$250 million, offering 100% Lloyd’s security to insure motor and sailing vessels valued at over US$10 million.
It will also offer worldwide coverage and have global reach through Lloyd’s brokers and their agents. Clients will be supported by a 24/7 claims service.
Anthony Forsyth, divisional director at Brit Global Specialty, said the new consortium will strengthen the firm’s marine offering.
“By combining Brit’s ability to deliver innovative solutions with a tailored approach to each policy, we are confident this consortium builds on our focus for delivering service,” Forsyth said.
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“Furthermore, our global network of surveyors and claims professionals will enable us to give immediate and local solutions to clients in the event of a claim,” he added.
According to Brit Group CEO Matthew Wilson, the new consortium delivers on the company’s strategy to build presence in markets where it “brings a compelling proposition.”
“Marine is a key line for Brit and I’m delighted that we have been able to further enhance our client offering in the space through the launch of this consortium,” Wilson said.
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