Aspen US Insurance has entered the recreational marine insurance market through an agreement with Georgia-based Axiom Insurance Management.
As per the arrangement, Aspen products will be distributed by Axiom Insurance.
The focus will be on marinas, yacht clubs, boat dealers, boat manufacturers and boat component manufacturers.
New York-based Aspen will offer property, inland marine, marine general liability, bumbershoot, ancillary hull and protection & indemnity coverages targeting small to medium enterprise businesses throughout the Continental US.
Aspen executive vice president and chief marine underwriter of US Rich Soja said that introducing new capabilities to their select distributors is part of their original product line expansion plan. Axiom is a trusted business partner, and their unique arrangement with them will bring a differentiated level of service to this segment.