British Marine

British Marine, founded in 1876, specialises in the underwriting of Hull & Machinery (H&M), Protection and Indemnity (P&I) and Legal Expenses (FD&D) insurance for small to medium sized ships.
In 2000 British Marine was demutualised and today the company is a wholly-owned subsidiary of the QBE Group, a major international insurance group with a market capitalisation in excess of US$16.5bn.

The company is in the unique situation of offering fixed cost insurance with no standard increase backed by ‘A+’ rated security, whilst maintaining the tradition of mutual insurance providers in providing a high level of service to our clients.

Profitable underwriting underpins the company’s mission to develop long term client relationships by avoiding the steep cyclical corrections that are frequently levied on premiums for both commercial Hull and mutual P&I insurance markets.

P&I

• 7,000 ships insured
• Limit of liability of choice
• US$500m (exceptionally up to US$1 Billion)
• Fixed cost

Hull

• 1,100 ships insured
• 100% insurance offered
• US$20m customary limit
• US$5m IV available

Fishing Fleet

• 500 vessels insured
• Hull and P&I combined
• Prompt claim settlements

Luxury Yachts

• P&I up to US$500m (exceptionally up to US$1 Billion)
• Worldwide cruising

There are four elements that British Marine considers key to the insurance relationship, and upon which the company is happy to be judged:

Price

• Fixed
• Determined by the owner’s risk profile and personal performance

Product

• We insure small and medium sized commercial vessels world-wide
• 100% Hull and P&I, individually or combined
• Variable limit available up to US$1 Billion for P&I and US$20M for Hull
• Bespoke to risk profile

Security

• Standard and Poors rating ‘A+’
• The QBE Group has a worldwide market capitalization in excess of US$16.5bn
• Reinsurance contracted with ‘A’ rated reinsurers only

Service

• Experienced in-house claims staff on call 24 hours
• 480 correspondents in over 230 ports
• Survey Department with in-house deck and engineer surveyors
• Comprehensive guarantee facility
• The mutual service tradition maintained