LIG Marine launches two new programs

Rough Notes, Apr 2004

LIG Marine Managers introduced two new programs: the Stock Throughput Program and the Marine Contractors Package Program.

Stock Throughput is a combination of ocean and inland cargo with worldwide "location" coverage in a warehouse or manufacturing premises. The coverage is most applicable when the cargo is carried on a round trip or when multiple stops are made along the way. The minimum premium is $25,000, and the policy is written on an annual basis with typically annual or quarterly adjustments.

The Marine Contractors Package Program is designed for marine contractors who work on vessels or build docks and/or seawalls; stevedores; ship repairers; wharfingers/landing owners; marine terminal operators; passenger vessel operators (harbor types), and related marine industries. Mandatory CGL (occurrence form) including products/completed operations is covered. Options are: ship repairers legal liability, stevedores liability, terminal operators liability, wharfingers liability, tankermans liability, protection and indemnity (excluding crew and cargo), hull and machinery, and equipment. Available limits are $1 million per occurrence/$2 million aggregate with excess coverage available. The minimum premium is $25,000; this can be reduced to $10,000 when coverage is written in conjunction with other lines.

Information and applications are available at LIG's Web site (www.LIGInsurance.com).