Stock Throughput and Marine Contractors

Nuts & Bolts: Marine Managers announced the launch of two new programs, the Stock Throughput Program and the Marine Contractors Package Program. Stock Throughput is a combination of ocean and inland cargo (road, truck, rail, air) plus location coverage in a warehouse or manufacturing premises anywhere in the world. This policy is most applicable when the cargo follows a round trip or has multiple stops along the way. The Stock Throughput Policy can provide coverages for the cargo while it is in route and while it is in a warehouse or manufacturing facility. In addition, the Stock Throughput can offer coverage for stock in various countries. The Marine Contractors Package program is designed for marine contractors who work on vessels, build docks and or seawalls, Stevedores, ship repairers, Wharfingers or landing owners, marine terminal operators, passenger vessel operators (harbor types) and related marine industries. Coverages include mandatory CGL (occurrence form) including products, completed operations, and options of ship repairers legal liability, Stevedores liability, terminal operators liability, Wharfingers liability, Tankermans liability, protection and indemnity (excluding crew and cargo), hull, machinery and equipment. Available limits are $1 million per occurrence, $2 million aggregate with excess coverage available when needed.

Dollars: The minimum premium for the Stock Throughput program is $25,000 and the policy is written on an annual basis with typically annual or quarterly adjustment The minimum premium for the Marine Contractors Package program is $25,000 if written monoline, however this is reduced to $10,000 when written in conjunction with other lines.

Carrier: Domestic licensed insurers, rated “A,” and Lloyd’s.

States Available: All.

Contact: Karen Tischler, (727) 578-2800 ext. 321, or www.liginsurance.com.