Aspen U.S. Insurance has entered the recreational marine insurance market. Its products will be distributed through an exclusive agreement with the Atlanta-based Axiom Insurance Management, Ltd.
The focus will be on marinas, yacht clubs, boat dealers, boat manufacturers and boat component manufacturers. The carrier will offer property, inland marine, marine general liability, bumbershoot, ancillary hull and protection indemnity coverages.
Aspen will primarily target small to medium enterprise businesses throughout the continental United States.
The New York-based carrier should find excellent distribution opportunities with Axiom, a specialty marine MGA and wholesaler.
“Introducing new capabilities to our select distributors is part of our original product line expansion plan.” said Rich Soja, executive vice president and chief marine underwriter, U.S.
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