Reinsurance News

Validus Specialty and Eagle Ocean America collaborate on U.S vessel cover

23rd March 2018 - Author: Matt Sheehan

Validus Specialty Underwriting Services has announced that its Marine & Upstream Energy re/insurance team will collaborate with Eagle Ocean America to provide a new range of U.S vessel operator cover.

Validus Specialty LogoThe partnership will allow Eagle Ocean America, which is a full-service insurance facility operated by Eagle Ocean Agencies, to offer new hull, liability, and ancillary cover on U.S vessel transportation risks.

Eagle Ocean America intends to offer fixed-cost P&I cover up to US $2 million and Hull and Machinery cover up to $10 million for each risk.

The expanded offering will primarily benefit operators of tugs and barges, work boats, crew boats, supply vessels, public entity vessels, research ships and other small craft, and those involved in marine contracting.

Christian Platusich, Senior Vice President and Head of Marine and Upstream Energy USA at Validus Specialty, said: “With this cover, fleets operating in the U.S. inland and coastal waters will have a service oriented, responsive provider in Eagle Ocean America.”

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Joe Hughes, Chief Executive Officer (CEO) of Eagle Ocean, added: “Validus Specialty offers impeccable admitted security in 48 states via the Stratford Insurance Company, with A.M. Best ‘A’ (Excellent) ratings. Our brokers and clients will enjoy our responsiveness and Validus’ financial strength.”

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