Specialty insurer and reinsurer IQUW has launched a ports and terminals product, providing coverage for physical loss or damage to marine property and cargo handling equipment, business interruption and third-party liabilities.
The new offering will be led by Ali Welchman, who has 10 years’ experience in the sector, having previously served as senior underwriter for transport and logistics at Markel International.
Based in London, Welchman reports to Phil Furlong, deputy active underwriter and head of marine, energy and aviation.
“Our new ports and terminals product underscores IQUW's ambition to be a lead market across marine and energy classes,” Furlong said. “Ali’s appointment follows several senior additions to the marine, energy and aviation team that reinforce our market-leading capabilities.”
Welchman added: “The ports and terminals market is rapidly changing, influenced by a combination of technological innovation…the impact of climate change and evolving geopolitical…landscapes. I’m thrilled to join the IQUW team to develop a new product that will meet these fresh demands and support our brokers and insureds.”
Image courtesy: Port of Dover
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