Our Marine Trade Appetite Remains strong in the Wake of yet another withdrawal from the market, writes Fiducia’s Marine Trades Underwriter Marc Watts

The announcement that another Underwriter is to cease to underwrite marine trades business from the end of January 2020 has shocked and disappointed many in the market.

Brokers across the UK were given little notice of this recent decision and many have been left with a degree of real unease about the future of Marine Trades capacity continuing to be available?

Within minutes of the latest announcement we received several calls from concerned brokers to enquire how we can help meet their clients’ needs.

Our message to brokers who have called and those who have been impacted is clear. Our door remains open to support those brokers who require some assistance on the placement of this business. Since our formation, the experienced Fiducia team with over 50 years of experience in this sector, continue to adopt a positive can do attitude based on our knowledge of the market and of this class of business.

The terms of our Underwriting facilities, backed by highly rated capacity, allows us to write EU trade business, which has and continues to be an advantage to our brokers and clients in a pre and post Brexit environment.

At Fiducia our goal always remains making a complex product simple for the Broker and their client. Clients want clarity in terms of what is and is not covered. The emphasis being that clear and accurate documentation encapsulating schedule and wording is provided.

As an experienced trades team, we work with our brokers to create a Marine Trades policy that can be quickly adapted to provide a more competitive bespoke solution for clients. We firmly believe that any policy needs to have the flexibility to adjust to the individual needs of the client and we are fully prepared to adapt and meet the demands and needs of those clients.

For more information please contact one of Fiducia’s Marine Trades team.

Marc Watts marc@fiduciamga.co.uk

Bob Watts bob@fiduciamga.co.uk

Gemma Ballard gemma@fiduciamga.co.uk

Rebecca O’Leary rebecca@fiduciamga.co.uk