Leeds-based Managing General Agent (MGA), Fiducia, has underscored its dedication to serving UK brokers by offering comprehensive marine equipment insurance solutions.
The MGA’s Marine Equipment underwriting facility is tailored to meet the evolving needs of the industry, particularly for high-value equipment involved in offshore projects, including those related to sustainable power generation and North Sea oil and gas operations.
Fiducia’s product offers robust coverage for all risks associated with physical loss or damage to marine and subsea equipment.
This coverage applies to equipment in transit, in storage, on vessels, or operational in water on a 24/7 basis. It is further strengthened by the support of a highly rated insurance company.
The marine equipment insurance product from Fiducia caters to a diverse range of trades, including commercial diving, offshore service, aquaculture contractors, and oil and gas exploration services.
It is also relevant for operations such as offshore wind farm servicing and inspection, marine wave and tidal renewables, oceanographic mapping and monitoring, and environmental safety and pollution control.
Notably, the policy covers various specialised equipment, including remotely operated vehicles (ROV), unmanned surface vehicles (USV), autonomous surface vehicles (ASV), autonomous underwater vehicles (AUV), and gliders.
Fiducia’s CEO, Gerry Sheehy, emphasised the necessity of comprehensive and tailored insurance protection for high-value equipment used in offshore projects.
“As an MGA, we have built a reputation for our level of service and the ‘can do’ approach to risks and solutions. It is a reputation we believe will stand us in very good stead with brokers who have marine equipment risks,” Sheehy said.
Fiducia specialises in marine cargo, freight liability, engineering insurance, inspection, and terrorism covers, and is fully supported by leading Lloyd’s syndicates and prominent insurance companies.
