What impact has the recession had on your business, and have you made any changes to your business in response to the market?
Atlass: Although we provide a variety of products, including marine hull and liabilities, commercial marine, personal lines, aviation, employers' liability and commercial property-casualty, most of our $7 million annual revenue is generated by our marine book, including yachts. A lower valuation of risks and a softening in rates has effectively reduced our premium and commission income per risk. It also has increased our work load as we are compelled to remarket renewals in many instances.
Troutman: United Marine Underwriters has been providing services to insurance agents for 20 years. Along with boat insurance, we also provide commercial marine coverage for charter boats, boat rental, PWC rental, fishing guides, boat clubs, pro anglers, commercial fishing, sailing schools, shared ownership, artisan/utility and others.
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