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. Further transportation insurance is available from affiliated companies within the QBE Insurance Group.
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$10bn.
The company is in the unique situation of offering fixed cost insurance with no standard increase backed by 'A (negative)' 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.
10,000 GT the customary maximum
There are four elements that British Marine considers key to the insurance relationship, and upon which the company is happy to be judged: