The St. Paul has introduced an enhanced Marine General Liability insurance policy which is suitable for marinas, stevedores, terminal operators, and ship repairers in the U.S. and Canada.
“We’ve updated the coverages to reflect today’s industry needs, and now provide a separate $1-million limit for defense costs, something we believe gives us a competitive advantage. We’ve also simplified wordings to make the coverage intent very clear,” said Linda Bonet, assistant vice president-Global Marine.
The St. Paul’s Marine General Liability (MGL) product covers traditional GL exposures, including bodily injury and property damage, personal and advertising injury liability, medical payments, and fire legal liability coverage. Buyers traditionally look for this coverage to protect them against property damage to watercraft owned by another party while it is in the insured’s custody or control. Coverage limits range up to $1 million and deductibles are flexible. Excess coverage is also available.
The St. Paul’s new MGL policy now features definitions, conditions and exclusions to provide a better understanding of the coverage features. The new policies became effective July 1, 2001, for renewal policies, and June 1, 2001, for new business.
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