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Ocean Marine Insurance

Protecting On the Water

Dating to the late 1600s, ocean marine is among the earliest formalized insurance contracts. Sea merchants gathered in groups at Edward Lloyd’s coffeehouse in London to arrange special contracts with each other – contracts that came to serve as the framework for modern ocean marine insurance policies. The merchants agreed that, in the event that one merchant lost a ship, every merchant in the group would assume a percentage of the loss – thus lessening each merchant’s individual risk for potential loss. The merchants formalized these early insurance policies by writing their names under the percentage of loss that each merchant had assumed. Such is the origin of the term underwriter, as well as Certain Underwriters at Lloyds London.

Ocean Marine Insurance Addresses Loss Exposure In Three Main Areas:

Our Ocean Marine Experience Includes Placement Of Coverage, And Claims Experience, With:

Contact us today to schedule your comprehensive insurance consultation.

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