Sompo expands UK presence with marine insurance proposition

Sompo, a global provider of commercial and consumer property and casualty re/insurance, has launched a new national marine insurance proposition for the United Kingdom.

This new policy will allow the insurer, for the first time, to write Marine Cargo, and Transport & Logistics policies across the regions, in addition to London.

Aimed at brokers and clients throughout the UK, Sompo’s new Marine Cargo UK policy and its Transport & Logistics propositions are both designed to provide easy to understand coverage.

The Marine Cargo UK policy offers all-risks coverage, eliminating the need for Institute Cargo Clauses. This ensures that clients are automatically covered under the policy, except for any specific exclusions outlined, according to Sompo.

Furthermore, all coverage details are now consolidated into a single document, streamlining the customer experience and making it simpler to understand.

The Transport & Logistics UK proposition also provides a complete package solution under a single wording, comprising freight liability, employers liability, public, products and pollution liability, and property (material damage and business interruption covers.)

This policy is targeted at freight forwarders, road hauliers, couriers, warehouse keepers, customs brokers, contracts logistics companies and shippers.

“We are constantly looking at ways to adapt our business model to ensure we provide the very best service and experience possible to brokers and clients right across the UK,” Bob Thaker, CEO, Commercial P&C Insurance, Sompo, UK commented.

He continued: “By increasing capacity and establishing an outstanding team of regionally-based underwriters, our new proposition expands the offering we currently provide in London so we can now also cater for growing regional demand to write directly Marine Cargo and Transport & Logistics policies.

“Both have been developed to be as simple as possible and are underwritten by our highly experienced team of marine specialists to eliminate uncertainty and ensure peace of mind for our clients.”

Outside London, the lines are led by Diane Blyth, Head of (Retail) Marine Cargo UK Regions and Jon Clare, Head of (Retail) Transport & Logistics, UK Regions.

They both report into Paul Ashworth, Head of Aviation, Energy & Marine, who also manages Sompo’s marine business in London.

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