UK based Chaucer Syndicates has entered into coverholder partnership with newly formed marine insurance underwriting agency Coastal Marine Services (CMS) to underwrite Hull and Machinery (H&M) and Protection and Indemnity (P&I) risks on behalf of Chaucer Syndicate 1084.
Under the new coverholder agreement, CMS will transfer its existing book of more than 400 H&M and P&I clients to the new partnership.
Chaucer said that the partnership will be managed by Philip Graham, class underwriter for marine hull and liability, Chaucer Syndicate 1084 and David Tiney, director, CMS. Previously, Tiney worked for Lloyd’s Syndicates, Lloyd’s Brokers and Marine Mutuals.
Tiney said the partnership offers the combined expertise of the two businesses together with the financial security of Lloyd’s, which will offer significant benefits to the clients.
Chaucer Syndicate 1084 head of production Andrew Voke said Chaucer’s partnership with CMS is great news for the marine division and will extend the current hull and liability portfolio.