XL Group has launched three tailored marine insurance programs to protect boaters, marinas and vessels, adding to its recreational marine insurance portfolio. The new recreational marine liability insurance coverages include:
- Boat Dealers Coverage Solutions: To provide property insurance coverage for dealer inventory as well as third party liability arising out of the sale, demonstration, exhibition, and transportation of a vessel.
- Marina Operators Legal Liability Coverage Solutions: To provide marina operators’ liability insurance protection from owners and boats in the care, custody and control of the marina operator for the purpose of repairs, maintenance, storage, moorage, fueling, hauling or launching.
- ShipShape for Workboats: To provide all risk hull and Protection & Indemnity (P&I) coverage for vessels owned by marinas and boat dealers.
Marine general liability combines marine liability with general liability, premises liability, products & completed operations, personal & advertising and damage to premises rented by the insured. Coverage can also be tailored to include contractual liability, sudden & accidental pollution, non-owned and hired auto, stop-gap, employee benefits liability and liquor liability.
The new products create a “one-stop shop” for the entire marine industry, including recreational, the company said in a statement. Additionally, the company noted that its introduced yacht insurance last year.
XL Group insurance subsidiaries include XL Specialty Insurance Co. and Indian Harbor Insurance Co.
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