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Maritime Insurance Company-a Risk Retention Group (MIC)Introduction The MIC is an outgrowth of a study commissioned in the mid 1990's to determine the availability of professional liability insurance for Marine Surveyors. The results were acquired by The Victoria Agency, an established Insurance Broker and Consultant and from the data collected it was determined this specialized coverage was not readily available at a reasonable price. Using the information and comments submitted by interested parties led to the goal of establishing an insurance program that would be available to any marine-related business, from one man to international operators, that would not be subject to the high and low pricing cycles of the standard market and would provide maximum benefit to the marine trades sector. The proposed MIC will have a relationship with the Marine Trades Association and you must be a member to participate in the MIC program. The annual membership dues are minimal and will not affect your decision to participate. Members in other marine-related trade associations are eligible for membership in the MTA without any conflict of interest. MIC plans to offer liability insurance including Protection & Indemnity and crew cover with excess or umbrella coverage available. Property, crime, fidelity and hull & machinery coverages will be offered mono-line or package depending on your requirements through MIC's service company. MIC will provide:
There will be companion packages with "A-rated" markets such as Property, Crime, Boiler & Machinery, Hull & Machinery, Mobile Equipment and other Inland Marine coverages, Worker's Compensation and more. MIC will be available in all states. In certain states the State Guaranty Fund may provide additional security for policyholders. MIC will write directly or through selected independent insurance agents and brokers.
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Send mail to
mail@marinetrades.com with
questions or comments about this web site. Some services are provided by outside
service organizations. The Marine Trades Association Inc. is a member service
organization and is not an insurance company, agent or broker. This website is
not to be considered a solicitation to purchase insurance or a solicitation to
invest in any scheme. The proposals on this website are for information purposes
only and are void where prohibited by law. Specific insurance questions should
be directed to Association Insurance Managers, a fictitious name of ORM Inc., a
Florida Corporation (305) 743-7711 or to their website
www.offshorerisk.com . |
