OneBeacon’s @vantage for Inland Marine Contains ‘Bucket’ Limit

Pointing to its 37 proprietary policy forms and more than 80 specialized coverage extensions, OneBeacon says its @vantage for Inland Marine offers business owners comprehensive solutions tailored to their specific inland marine insurance needs.

This new offering is available for a variety of risks, including:

Builders Risk Property in Transit
Contractors Equipment Motor Truck Cargo Liability
Installation Risk Warehouseman’s Legal Liability
EDP Equipment Miscellaneous Articles
Scientific and Medical Equipment Fine Arts
Communications Property Fine Arts Dealers
Equipment Dealers Musical Instruments
Lease-Interest Equipment Theatrical Property
Bailee Customer’s Property Jewelers Block

@vantage for Inland Marine contains what OneBeacom terms “a significant innovation” in the inland marine marketplace: a bucket limit of insurance. The bucket limit combines a wide array of coverage extensions — emergency response service charge, claims expenses, reward coverage, fire extinguisher and automatic extinguishing system recharge, personal effects, more — under a customized single-occurrence limit. In addition, language is consistent throughout all of its forms and endorsements to avoid potential coverage gaps.

“We designed our @vantage suite of products to fit together,” said Drew Carnase, head of OneBeacon’s commercial middle market operation. “Whether a customer needs stand-alone inland marine coverage or wishes to combine it with property and liability insurance, we can shape comprehensive protection for them quickly and easily.”

OneBeacon @vantage for Inland Marine provides industry specific protection to the following target markets: transportation and logistics, construction, healthcare, technology, financial services, telecommunications and cultural institutions. And it’s flexible, which allows it to be tailored to all industries to meet a customer’s specific needs.

OneBeacon Insurance Group is wholly owned by White Mountains Insurance Group, Ltd., of Hamilton, Bermuda.

Source: OneBeacon