Beat Capital Partners and industry figure Kevin Wolfe are teaming up to launch specialty marine underwriting agency Marcato Marine Insurance Services.
The pair said in a joint statement that Wolfe would be the president and CEO of the company, with the rest of the executive team being comprised by Marq Wolfe, Jeff Hawkins, and John Kiernan. Kevin Wolfe said that the new firm was being formed to address the burgeoning client and broker need for specialized technical underwriting solutions in the domestic marine and global project cargo space.
Wolfe said: “I’m incredibly proud to be launching Marcato Marine alongside this highly experienced and committed team. Together, we are building a dedicated marine offering for the future, backed by industry-leading underwriters with the know-how and authority to make key decisions.
He added: “There is a wealth of unrealized opportunity within the marine market and I look forward to re-connecting with our broker colleagues and building new and enduring relationships with those who may not be as familiar with marine insurance placements. Our team is always available to answer marine questions, no matter how general or technical, and we are committed to delivering the much-needed marine solutions.”
Marcato will initially deliver the following products: project cargo, general cargo, hull, and protection & indemnity (P&I), marine general liability, and marine excess liability. It also plans to expand its offerings in the latter part of 2023 to include inland marine products.
Marcato will have the capacity to offer project cargo limits up to $147.5m (project cargo and DSU combined limit), and $20m for cargo/warehouse, hull/P&I, and marine liabilities (primary and excess).
