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Marine insurance traditionally formed the majority of business underwritten at Lloyd's. Nowadays, Marine insurance is often grouped with Aviation and Transit (cargo) risks, and in this form is known by the acronym 'MAT'. It is common for marine insurance agencies to compete with the offerings provided by local insurers.
Gard provides insurance for companies in the upstream oil and gas industry, including large oil producers, as well as contractors operating mobile offshore drilling units, such as offshore accommodation units and FPSOs. The covers range from traditional property and casualty to liability insurances.
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. [1] Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure.
The business underwritten at Lloyd's is predominantly general insurance and reinsurance, although a small amount of term life insurance is written. The market has its roots in marine insurance and was founded by Edward Lloyd at his coffee-house on Tower Street in c. 1689. It is thus one of the oldest insurance companies in the world.
Type of business insurance. Description. General liability insurance. Pays legal fees and settlements (up to your policy limits) if you get sued for a covered general cause. Product liability ...
Aviation was the first line of insurance provided by Tokio Marine HCC. The company's insurance for aviation includes liability, cargo, and war. HCC Aviation insures approximately 45,000 aircraft in the United States and more than 60 countries worldwide. [8] Avemco Insurance Company was a stand-alone NYSE company acquired by Tokio Marine HCC in ...
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